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

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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

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