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Ambit Biosciences refiles for a $58 million IPO

By: Renaissance Capital
Posted: 2/20/2013 4:15:00 PM
Referenced Stocks: AMBI

Ambit Biosciences, a biotech developing small molecule therapeutics for the treatment of cancer with Astellas Pharma, filed on Wednesday with the SEC to raise up to $58 million in an initial public offering. The company originally filed for an IPO in 2010 before ultimately withdrawing.

The San Diego, CA-based company, which was founded in 2000 and generated $18 million in revenues from collaboration agreements for the 2012 fiscal year, plans to list on the NASDAQ under the symbol AMBT. Citi and Leerink Swann are the joint bookrunners on the deal. No pricing terms were disclosed.