Sophiris Bio decreases proposed IPO price


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Sophiris Bio, which is developing a biologic to treat enlarged prostates, lowered its proposed IPO price on Thursday. The La Jolla, CA-based company now plans to raise $65 million by offering 13.0 million shares at a price of $5. The company had previously filed to offer 5.0 million shares at price of $13. The expected proceeds to Sophiris remain the same. Sophiris Bio, which was founded in 2002 and booked $5 million in sales for the 12 months ended 6/30/2013, plans to list on the NASDAQ under the symbol SPHS. Sophiris Bio initially filed confidentially on 12/7/2012. Citi and Leerink Swann 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 Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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