Sagent Pharmaceuticals - Biotech IPOs of 2011

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Company: Sagent Pharmaceuticals ($SGNT)
Based: Schaumburg, IL
Raised: $92M (5.75M shares at $16)
Target range: $14 to $16
Current price: $21.85

Scoop: Sagent Pharmaceuticals is another company whose approach to drug development differs from the norm. The company, which is primarily focused on generic injectables, aims to bring finished pharmaceutical therapies to the U.S. market. Its business has attracted $153 million in venture capital since it was founded in 2006.

Although the company planned to raise $80 million through the sale of 5 million shares, it exceeded its goal by selling 750,000 more shares than anticipated. Moreover, shares priced at the high end of the company's range, resulting in a $92 million IPO. Sagent's stock price has climbed since its debut in April to the $21+ mark, prompting TheStreet to name it one of 2011's 10 best performing IPOs.

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