Pain drug developer Horizon Pharma takes a shot at $49.5M IPO, below expected range
This article was originally published in Scrip
Executive Summary
Horizon Pharma has filed for an initial public offering on Nasdaq of up to $49.5 million through the sale of 5.5 million shares at $9 per share, which should provide the Northbrook, Illinois-based company some certainty as it prepares for the US launch next quarter of its recently approved product Duexis – a fixed-dose combination of ibuprofen and famotidine in a single pill. A decision from the EU on the product is expected in the first half of 2012.
You may also be interested in...
ChemoCentryx cuts price to get $45M IPO away
ChemoCentryx has successfully completed its initial public offering on Nasdaq, raising $45 million to help support its multiple R&D programmes. It sold 4.5 million shares at $10, a somewhat less ambitious debut than it had originally planned in January when it wanted to sell four million shares at $14-$16. The reduced offer is a sign of the challenging nature of the IPO market, but ChemoCentryx's assessment of its own worth was at least closer to the market’s assessment that Cempra which got its IPO away on 6 February at valuation that was less than two-thirds of that implied by its initial prospectus (scripintelligence.com, 7 February 2012).
Ampio raises $16.9M as it advances PhIII premature ejaculation drug
Ampio Pharmaceuticals, a development-stage company, initially raised $15 million which was boosted to $16.9 million by the exercise of overallotments by brokers. The shares were offered at $3.25, an 8.5% discount to the closing price of $3.66 on 12 July. The market pushed them down slightly further to 3.21 on 13 July.
Money talks: Verastem leverages IPO to build cancer stem cell pipeline
Verastem, a cancer stem cells startup, has moved quickly to build its pipeline just five months after an initial public offering. Management at the Cambridge, Massachusetts firm believes that recent moves have accelerated Verastem's clinical development plans by a year.