Xencor prices IPO at $5.50, at lower revised share price

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Xencor, a biotech developing antibodies for severe autoimmune/allergic diseases and cancer, raised $70 million by offering 12.7 million shares at $5.50. The company, which revised its terms yesterday, had originally filed to offer 5 million shares at $14 to $16 per share but subsequently slashed its price to $7 per share and increased shares offered to 10.7 million on November 14 before postponing its deal. Insiders have indicated an interest in buying up to $20.5 million on the offering (29% of the deal). Xencor will list on the NASDAQ under the symbol XNCR. Credit Suisse and Leerink Swann acted as lead managers 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

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