After a slight lull in the biotech IPO arena, new offerings came barreling back this week with some fresh breakouts. In particular Foundation Medicine priced over the range and immediately soared more than 80%. And Ophthotech also crested its range, erasing any lingering doubts about the short-term sustainability of the biotech IPO frenzy. Together they raised $273 million in a 24-hour pop. Read the report >>
Investigators tested the antiviral among hematopoietic cell transplant recipients with early adenovirus infection, but said--well into its release--that the therapy fell short on achieving statistical significance on efficacy in the "progression to possible or probable AdV disease or significant changes in AdV viremia.
During all of last year there were only 11 biotech IPOs. But even that weak number looked pretty good compared to the barren years leading away from the 2008 financial crisis. In the last 6 months, though, the industry has seen a tremendous rebound, with almost twice that number of IPOs in half the time. And there's no sign that the great leap into the public market is waning, with 10 more IPOs in the queue. Read the full report >>
The Durham, NC-based drug developer's stock soared on its first day of trading, with an initial price of $14 per share that shot up 34% to $18.79 per share by the end of the day.
Two biotech players have offered price ranges for their hoped-for initial public offerings. Chimerix aims to sell 6.1 million shares for between $13 and $15 per share, and Omthera has priced its IPO shares in the $12 to $14 range.
As the biotech advances its lead antiviral drug to Phase III development, Chimerix has tapped a veteran of one of the most high-profile pharma R&D programs in the world.
Welcome to this week's roundup of hirings and firings throughout the industry. Please send the good word (or the bad) from your shop to Jennifer Levin (email | Twitter) and we will feature it...
Research Triangle Park, NC-based Chimerix has inked its first big partnership, reaping a $17.5 million upfront payment and a promise of up to $151 million more from Merck, which gains rights to a mid-stage antiviral--CMX157--which has prospects as a new addition to future HIV cocktails.
With two antiviral drug candidates in the clinic, Durham, NC-based Chimerix has raised $45 million in a Series F round of financing. New Leaf Venture Partners led the round. The firm was joined by
SIGA Technologies says it has been selected to deliver a smallpox antiviral drug to the nation's biodefense stockpile, landing a contract which is worth $500 million at the base level and zooms all