NEW YORK (CNN/Money) - Red Robin Gourmet Burgers Inc., a restaurant chain, edged up in its market debut on the Nasdaq Friday.

Shares of Red Robin (RRGB: Research, Estimates) dropped from its earlier high of $13.06 to finish at $12.22, adding 22 cents, or nearly 2 percent.

Red Robin raised $60 million late Thursday when it sold 5 million shares at $12 each, down from its $14-to-$16 price range, via lead underwriters Banc of America Securities and U.S. Bancorp Piper Jaffrey.

Greenwood Village, Colo.-based Red Robin is a casual dining restaurant chain that specializes in gourmet burgers that are made from a variety of ingredients. In fact, burgers comprise nearly half, or 44 percent, of Red Robin's food sales last year.

The 33-year-old Red Robin operates 91 restaurants that are mainly located in the Western United States. The restaurant chain is profitable with $2.5 million in income on $76.3 million in revenue for first-quarter 2002, compared with $1.9 million in income on $64.6 million in revenue for the same time period last year.