Endocyte readies $86M IPO for chilly market

Yet another biotech company with no product revenue and an abundance of risk is preparing to dive into chilly market waters. In this case the undaunted Endocyte, a developer relying on its platform for small molecule drug conjugates for cancer and inflammatory diseases, has filed plans for an IPO designed to raise up to $86 million. Endocyte has successfully raised about $90 million from venture backers so far, including a $26 million round last fall that was earmarked for its work on a...

PacBio files for $200 million IPO

Money-raising machine Pacific Biosciences--a 2009 Fierce 15 winner--has decided to take its act public. The company has filed a $200 million IPO, the proceeds of which will help the company fund R&D of its products and SMRT technology (photo, click to enlarge), which uses nanofabrication, biochemistry, molecular biology, surface chemistry and optics to enable real-time analysis of biomolecules. Just last month, PacBio closed a $109 million Series F, bringing its total haul to $370...

NuPathe’s price cut shows slow biotech IPO recovery

Conshohocken, PA-based NuPathe has cuts its IPO price to just $10 a share, the company announced today. NuPathe was hoping to raise between $14 and $16 per share for a total of $75 million. The developer still plans to offer 5 million shares. NuPathe's has a migraine treatment called Zelrix which has completed Phase III testing. The trial showed that migraine symptoms like pain, nausea and sensitivity to light and sound, significantly improved two hours after applying...

Horizon Pharma braves a chilly market with $86M IPO

Apparently undaunted by the rough reception biotech companies have received on Wall Street this year, Horizon Pharma has floated plans to raise a total of $86.25 million through an IPO. Northbrook, IL-based Horizon, which started out as Nitec in 2004, has two drugs that have made it through late-stage trials and plans to use the money to finish the regulatory work and boot up commercialization efforts. Over the past six years the developer has raised $54 million from a list of venture...

Complete Genomics maps plans for $86M IPO

One of the challengers in the race to revolutionize the field of gene sequencing with a low-cost set of lab tools has mapped out an $86.25 million IPO to test investors' appetite for the new technology. Mountain View, CA-based Complete Genomics plans to offer developers genome sequencing for less than $1,000, a price that would make the assembly-line technology available to virtually anyone looking to use it in development programs. As of last May, points out the San Jose Mercury...

NuPathe plans to raise $75M with IPO

Conshohocken, PA-based NuPathe, which is developing a transdermal patch version of the popular migraine treatment Imitrex, has set the terms of its proposed IPO. NuPathe will offer 5 million common shares at $14 and $16 per share, giving the company a market cap of $255 million. The developer hopes to raise up to $75 million with the offering. NuPathe will trade on the NASDAQ under ticker symbol PATH. NuPathe's migraine treatment, called Zelrix, has completed Phase III...

Report: PregLem tests IPO waters

PregLem is exploring the possibility of an IPO later this year, two sources tell Bloomberg. The Switzerland-based company, which specializes in women's health products, has hired Credit Suisse Group to assist with the potential IPO. CEP Ernest Loumaye declined to comment on the report. The company has raised $65 million since its inception in 2007. PregLem's lead product is Esmya, a Phase III candidate for the treatment of uterine fibroids. Thought the uterine tumors are benign, they can cause...

CRO braves the public market, files for $100M IPO

Fort Washington, PA-based ReSearch Pharmaceutical Services is braving the rough waters at Nasdaq, filing an IPO designed to raise $100 million. The CRO reports that it garnered $224 million in revenue last year, an increase from the $175 million in grossed in 2008. Last year's net income, though, was only $2.6 million. Cartesian Capital, The Argentum Group and First Analysis have all backed the CRO, which didn't outline either the number of shares it plans to offer or the expected price...

Seattle biotech entrepreneur floating $15M IPO

Veteran Seattle biotech player Steven Quay wants to fund his diagnostic testing company, Atossa Genetics, through a $15 million IPO. No underwriters are signed on yet, though. Quay is the former CEO of Sonus and Nastech, explains Xconomy, neither of which have fared well....

NuPathe plots $86M IPO

Yet another biotech company has announced plans to file an IPO. Conshohocken, PA-based NuPathe, which is developing a transdermal patch to treat migraines, hopes to raise $86.3 million, according to an SEC filing. The company is applying to list its common stock on NASDAQ under the symbol PATH. NuPathe's most advanced product candidate, Zelrix, is a single-use patch that delivers the commonly prescribed migraine drug sumatriptan. The company completed a Phase III trial for Zelrix in July...