Shares of Nasus Pharma Ltd. (NSRX) are soaring 13.67% in their trading debut on Wednesday, following the company's successful initial public offering (IPO). The clinical-stage pharmaceutical company, which focuses on developing innovative intranasal products for emergency medical conditions, priced its IPO at $8 per share, raising $10 million in gross proceeds.

The IPO consisted of 1.25 million ordinary shares, with underwriters granted a 45-day option to purchase up to an additional 187,500 shares to cover over-allotments. Nasus Pharma's shares began trading on the NYSE American under the ticker symbol "NSRX," attracting significant investor interest on its first day of public trading.

The strong market debut suggests investor optimism about Nasus Pharma's potential in the pharmaceutical sector. The company plans to use the net proceeds from the IPO to further develop its intranasal Epinephrine program, including manufacturing scale-up and additional Phase 2 studies. The remainder will be allocated to general corporate purposes, working capital, and capital expenditures. With its focus on needle-free alternatives for acute medical conditions, Nasus Pharma appears to have captured the attention of market participants looking for innovative healthcare investments.