AVEO Pharmaceuticals ($AVEO) - 10 Biotech IPOs of 2010
IPO Amount: $81M
Date: March 12
Range: $13 to $15
Actual price: $9
Scoop: Aveo was in late-stage trials for its renal cell carcinoma drug tivozanib when, in March 2010, it made its move to go public. Despite boasting a late-stage drug candidate, a Phase II program for lung cancer drug AV-299, a number of Phase I programs and several drug developer partnerships, the Cambridge, MA-based developer fell far short of its $13 to $15 price range. Aveo raised $81 million with a market value of $267 million. It trades under the stock symbol AVEO.
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