Tengion ($TNGN) - 10 Biotech IPOs of 2010
IPO Amount: $30 million
Date: April 9
Range: $8 to $10
Actual price: $5
Scoop: A 2007 FierceBiotech emerging drug developer, Tengion fell short of its $40 million IPO goal in April as its 6 million shares garnered $5 each instead of the $8 to $10 goal. The company, which focuses on growing replacement organs from the patient's cells, plans to use the funding for more research in its field. It was the smallest venture-backed IPO since 2008, according to the Wall Street Journal. The company had previously closed funding rounds of $21 and $25 million, respectively.
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