Horizon Pharma - Biotech IPO of 2011

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Company: Horizon Pharma ($HZNP)
Based: Northbrook, IL
Raised: $49.5M (5.5M shares at $9)
Target range: $10 to $12
Current price: $3.55

Scoop: Horizon Pharma's quest for an IPO began in August 2010, when it announced intentions to raise $86 million, but it took almost a year to complete the process, and the company had to settle for less than it originally planned. Horizon revised its goal to $66 million but priced just below its targeted range with a debut of $9.

Horizon has two drugs on the market; Duexis, an ibuprofen/famotidine combo drug for rheumatoid arthritis and osteoarthritis pain, and Lodotra, a low-dose version of prednisone. The financing will be used in part to support the launch of Duexis in the U.S. Horizon has raised $54 million since its inception in 2005.

 

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