ARYx Therapeutics (a 2004 Fierce 15 company [1]) raised $50 million in its IPO after slashing its price from a forecasted $14 to $16 a share down to $10. Report [2]
Links:
[1] http://www.fiercebiotech.com/Fierce15/2004/aryx
[2] http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-20803403.htm