Durata, with license to Pfizer drug, lays plans for $86M IPO

Venture-backed Durata Therapeutics has filed paperwork for an $86 million initial public offering. The Morristown, NJ-based developer has no products on the market but has high hopes for its late-stage antibiotic for skin infections, dalbavancin, which was licensed from drug giant Pfizer ($PFE). Biotechs have weathered the IPO market with mixed results. While some companies with late-stage drugs have yanked plans to go public, as Merrimack Pharmaceuticals recently did, Verastem ($VSTM) this year pulled off a public debut with a lead cancer drug in preclinical development. Article

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