Nasus Pharma Ltd. (NSRX) made a strong debut on the New York Stock Exchange, with its stock soaring 13.67% in intraday trading on Wednesday. The impressive rally comes after the clinical-stage pharmaceutical company, focused on developing innovative intranasal products for emergency medical conditions, priced its initial public offering (IPO) at $8 per share.

The company raised $10 million in its IPO by offering 1.25 million ordinary shares. Nasus Pharma also granted the underwriters a 45-day option to purchase up to an additional 187,500 shares to cover over-allotments. The shares began trading on the NYSE American under the ticker symbol "NSRX" on Wednesday, with the IPO expected to close on Thursday, subject to customary closing conditions.

Nasus Pharma intends 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 and administrative corporate purposes, working capital, and capital expenditures. This successful market debut suggests strong investor interest in Nasus Pharma's innovative approach to emergency medical treatments, particularly its needle-free alternative to Epinephrine autoinjectors for patients with anaphylaxis.