Shares of the Calabasas, CA-based biotech outfit shot up more than 25% to $42 midmorning on Tuesday after its Monday release on the results. The promise of ATX-101 could make Kythera a buyout target, an analyst from Cowen & Co. noted, and recommended buying the company's shares.
Bayer Healthcare touted upbeat data from a pair of late-stage studies of an investigational drug targeting chin fat, setting the stage for the giant to step into growing aesthetic treatment market. And the results provide a victory from Kythera, which licensed the injected drug to Bayer for markets outside the U.S. and Canada.
In a rare day for biotech IPOs, Kythera Biopharmaceuticals and Intercept Pharmaceuticals hit the public markets Thursday with prices at the high end of anticipated ranges and big jumps in value. It's up for debate what the huge day for the two biotech IPOs means for other drug developers angling to go public, and in some ways Kythera and Intercept appear to be unique cases in the biopharma industry.
Kythera Biopharmaceuticals has stuck an expected price range of $14 to $16 per share on stock in the biotech group's proposed initial public offering, seeking to raise funds to advance an injected drug for elective treatments to wipe out chin fat.
A group of some of the top venture funds in life sciences has banded together to back a $37.4 million D round for Los Angeles-based Kythera Biopharmaceuticals as the aesthetic medicine biotech
Los Angeles-based Kythera Biopharmaceuticals has landed a $373 million licensing deal with Bayer Healthcare's dermatology unit Intendis. The group gets rights to Kythera's lead product candidate,