Nivalis Therapeutics, Inc. (NVLS) Makes Smashing Debut

Nivalis Therapeutics Inc (NASDAQ:NVLS) began trading publicly today, and so far, the results have been great. While the IPO hasn't been as highly publicized as Fitbit Inc's (NYSE:FIT) upcoming debut, shares of the drugmaker are up an impressive 8.7% at $15.22

For those unfamiliar, NVLS is a pharmaceutical firm focused on treating patients with cystic fibrosis. The company's leading candidate is N91115, which is designed to stabilize defective cystic fibrosis transmembrane conductane regulator (CFTR) activity.

While Nivalis Therapeutics Inc's (NASDAQ:NVLS) session has been successful, a number of drugmakers have surged even more sharply today. In fact, my colleague Josh Selway earlier highlighted a pair of biotechs flirting with fresh highs.