Strongbridge raises $25M in a downsized IPO

Drug developer Strongbridge Biopharma ($SBBP) cleared $25 million in an IPO, bringing in less than a third of the cash it once sought as biotech companies continue to struggle on Wall Street. The company, formerly known as Cortendo, moved 2.5 million shares at $10 each, pricing an offering well below the $86 million it craved last month. Strongbridge is working through Phase III with COR-003, a treatment for Cushing's syndrome, and expects to report data in 2017. Release

Suggested Articles

A TGen-led research team found that increased activity of the gene AEBP1 drives severe liver fibrosis in nonalcoholic steatohepatitis.

Days after announcing its R&D chief was stepping down, Gilead announced it will be buying a few of Novartis’ unwanted early-stage infection assets.

Mallinckrodt is teaming up with Silence Therapeutics to develop an RNAi program aimed at a group of proteins that play a part in promoting inflammation.