Agios Pharmaceuticals gains almost 74% in market debut as biotech fever continues

By
A A A

Agios Pharmaceuticals, a biotech developing metabolic treatments for cancer and rare genetic diseases, rose 73.8% in its market debut, making it the best biotech first-day return since Pain Therapeutics ( PTIE ) rose 82.3% in its July 2000 debut. The company raised $106 million in an upsized IPO that valued the company at a market cap of $542 million, after originally setting terms for a deal that would have generated $75 million in proceeds at a market cap of $441 million. Agios' opening day vaults it ahead of last week's OncoMed ( OMED ), which saw its shares rise 59.9% on its first day of trading, for the best biotech first-day return in 2013. Agios is the fifth 2013 biotech deal to gain nearly 50% or more in its market debut.

Top Five Biotech First-Day Returns of 2013
Company Ticker Description First-Day Return Total Return
Agios Pharmaceuticals AGIO Pre-clinical cancer biotech 74% 74%
OncoMed Pharmaceuticals OMED Cancer biotech 60% 38%
bluebird bio BLUE Gene therapy biotech 58% 87%
Epizyme EPZM Early-stage cancer biotech
53% 134%
Prosensa RNA Late-stage orphan drug biotech
48% 110%



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: AGIO , OMED , PTIE

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

Stocks

Referenced

Most Active by Volume

48,099,947
  • $16.09 ▲ 0.50%
40,277,806
  • $102.50 ▲ 0.24%
40,236,499
  • $19.57 ▲ 2.35%
31,092,510
  • $49.75 ▲ 0.65%
30,795,218
  • $34.92 ▲ 0.78%
29,910,855
  • $3.63 ▲ 0.83%
24,019,154
  • $13.06 ▼ 0.38%
23,753,906
  • $74.82 ▲ 1.31%
As of 8/29/2014, 04:04 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com