Trius slashes its IPO price to the bone

After testing the IPO waters with a plan to sell shares for $12 to $14, San Diego-based Trius Therapeutics found investors in a frigid mood for a biotech with no products and no revenue. Trius ended up pricing its long delayed IPO at $5 a share, netting $45 million and change for its ongoing R&D work. Trius has been engaged in developing new antibiotics, a lively field in drug development. But the markets have demonstrated little appetite for biotechs still focused entirely on the high...

Can Trius get market mojo working with $84M IPO?

Biotech IPO watchers will get a new player this week with San Diego-based Trius Therapeutics--a 2008 emerging drug developer--making its long-delayed debut on the market. Trius will attempt to sell six million shares for $12 to $14 each, worth up to $84 million. Depending on the underwriters, Trius could net anywhere from $71 million to $82 million from the offering. A success here would attract a considerable amount of attention. The biotech company has no products on the market and is...