Progenitor IPO forecasts up to $31.2 mil. in proceeds for the functional genomics firm.
PROGENITOR SEEKING TO RAISE $27.1 MIL. IN INITIAL PUBLIC OFFERING of approximately 2.5 mil. shares at an estimated offering price of $12 per share, a June 6 prospectus states. Progenitor, a functional genomics company, is a subsidiary of Interneuron. The IPO would include an over-allotment option of 375,000 shares for underwriters Vector Securities International, Tucker Anthony and Genesis Merchant Group, which could increase net proceeds by $4.1 mil. Procceeds should keep the company operating for "at least the next 18 months," the prospectus estimates.
You may also be interested in...
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth