Biotech financing: Will ImaRx break the IPO slump?
(UPDATED: See below.)
It’s been a long, barren summer for biotech IPOs, but ImaRx, the blood-clot company we featured here, finally managed to bull its way into the public markets. The company, which withdrew an earlier $75 million IPO and lowered its offering price on the current one, finally finally priced its IPO at its most recent target of $5 a share, selling three million shares for an anemic take of $15 million, excepting fees and possible… Continue Reading
Amicus Therapeutics prices IPO, raising up to $86M
Cranbury, N.J.-based Amicus Therapeutics priced its IPO shares at $15, right in the middle of its expected $14 to $16 range, an offering that could raise up to $86.3 million in gross proceeds if it sells all 5.75 million shares available. Here is the company’s release.
The company’s focus lies in developing “molecular chaperones” designed to help badly folded proteins achieve their true shape — thereby either restoring their function in genetic disease or potentially reducing… Continue Reading
Amicus Therapeutics aims for potentially disruptive $92M IPO
Amicus Therapeutics, a Cranbury, N.J., developer of drugs to treat rare genetic diseases, said it plans to raise as much as $92 million in an IPO — money that would fund its pursuit of new drugs for rare genetic diseases, a strategy could be disruptive for both medicine and the biotechnology landscape.
According to its SEC filing, Amicus plans to offer up to 5.75 million shares at a price of $14 to $16. The company’s market… Continue Reading