Kindred, TetraLogic stretch for $100M-plus as the biotech IPO market simmers

The once-vaunted biotech IPO scene has largely cooled over the past month, but Wall Street debutants TetraLogic ($TLOG) and Kindred Biosciences ($KIN) showed up in time to cash out. TetraLogic traded 7.2 million shares for $50 million--a fraction of the $103.5 million max the company craved back in October--and the biotech will put that cash toward its cancer drug development platform. Kindred cleared $53 million in an upsized offering, adding another almost 2 million more shares to its offering after scaling back its expected share price. That company's haul will help fund its animal drug programs for pain and severe itching. TetraLogic | Kindred