IPO price: $16
Close Sept. 30: $19.65
Change: Up 23%
Raised: $102.7 million
Scoop: After making a splash with some excellent midstage results for its banner obesity treatment, 2009 Fierce 15 honoree Zafgen got the ball rolling on an IPO, pricing at the high end of its range and upping its offering by 20% to bring in more than $100 million, including over-allotments. The company's lead candidate is beloranib, a drug that blocks a bodily enzyme involved in fatty acid production. In a midstage study, beloranib came through with stellar results, helping one patient group lose an average of 22 pounds in 12 weeks. With its IPO proceeds, the biotech is mounting late-stage studies of its drug in patients with rare, weight-inflating diseases, aiming to pick up small approvals before taking the plunge on a big, costly obesity trial. The company picked up a $45 million E round last year, giving it enough cash to make its way through Phase III.
Special Report: 2009 Fierce 15 - Zafgen
Zafgen, Ardelyx bank $156M in IPOs, recalling biotech's winter boom
Zafgen tees up an $86M IPO for eye-catching obesity drug