Antibacterial biotech Achaogen sets terms for $65 million IPO

By
A A A

Achaogen, which is developing antibacterials for the treatment of multi-drug resistant infections, announced terms for its IPO on Tuesday. The South San Francisco, CA-based company plans to raise $65 million by offering 5 million shares at a price range of $12 to $14. At the midpoint of the proposed range, the company would command a fully diluted market value of $216 million. Achaogen, which was founded in 2002 and booked $19 million in grant revenue for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol AKAO. Achaogen initially filed confidentially on December 18, 2013. Credit Suisse and Cowen & Company are the joint bookrunners on the deal.



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: AKAO

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

Cheap Ways to Sleep Better
Cheap Ways to Sleep Better          

Stocks

Referenced

Most Active by Volume

71,769,540
  • $16.1799 ▲ 0.12%
22,273,847
  • $101.276 ▲ 0.69%
14,990,696
  • $60.28 ▲ 8.20%
13,107,250
  • $10.6817 ▲ 9.67%
12,752,375
  • $99.04 ▲ 0.14%
11,832,538
  • $51 ▼ 0.14%
11,654,140
  • $74.47 ▼ 0.13%
10,429,312
  • $31.971 ▲ 7.57%
As of 8/22/2014, 12:08 PM

Find a Credit Card

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