Aeglea raises $50M in IPO after slashing share price

IPOs 2016

Austin, TX-based Aeglea BioTherapeutics raised $50 million in its IPO after pricing 5 million shares at $10 each, far below the range that it had set out for itself. The enzyme-replacement biotech had hoped to sell 3.5 million shares at $16 to $18, which proved an impossible task in this turbulent market. Shares will trade under the $AGLE symbol. The biotech raised $44 million in a venture round a year ago, much of which was earmarked for a Phase I/II proof-of-concept study of AEB1102. Release