Inotek slashes share price ahead of IPO

The biotech IPO window has remained open during the first quarter of the year, but not all upstart drug developers are finding it easy to make the leap into the public market. Lexington, MA-based Inotek joined the list of the under-performers, opting to slash its share price from a range of $13 to $15 to a mere $6 a share. Now it expects to raise about $40 million from the sale of 6.7 million shares. And it should emerge with a market cap of under $100 million. The biotech, developing a glaucoma therapy, also raised $20 million in debt financing, according to an SEC filing. Filing

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