A pair of erstwhile biotech IPO hopefuls made their way to the market at a significant discount, suffering the effects of a bear turn across the industry.
A pair of biotechs has priced their IPOs. Edge Therapeutics has trimmed its expectations, looking for around $85 million from the auction of 5.7 million shares at $14 to $16 a share, while Strongbridge Biopharma expects to raise $76 million from the sale of 4.25 million shares. Edge could come out of the IPO with a market value of $435 million, reports Renaissance Capital, while Strongbridge is targeting $423 million.
Edge Therapeutics is deploying drug delivery to improve the standard of care for treating ruptured brain aneurysms, and hopes to receive $115 million via an IPO on the Nasdaq, for which it just filed.
Edge Therapeutics, at work on treatments for brain injuries, filed to raise $115 million in an IPO, seeking cash to get its top prospect into late-stage development.
New Jersey biotech Edge Therapeutics pocketed $72.5 million in a series of funding rounds, piling up cash as it prepares to take its lead treatment for brain injuries into Phase III development.
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 Alison Bryant (email | Twitter) and Nesa Nourmohammadi (...
MPI Research and Edge Therapeutics have partnered to conduct trials toward the testing of products they hope can combat the effects of brain hemorrhage.