Gastrointestinal biotech AzurRX Biopharma decreases proposed IPO deal size

Shutterstock photo

AzurRX Biopharma, which is developing non-systemic biologics for gastrointestinal disorders, again lowered the proposed deal size for its upcoming IPO on Wednesday.

The Brooklyn, NY-based company now plans to raise $6.6 million by offering 1.2 million shares at a price of $5.50. The company had previously filed to offer 1.7 million shares at a range of $6 to $8, and before that had originally filed to offer 2.1 million shares at the same price. At $5.50, AzurRX Biopharma will raise -45% less in proceeds than previously anticipated. 

AzurRX Biopharma was founded in 2007 and plans to list on the Nasdaq under the symbol AZRX. WallachBeth Capital and Network 1 Financial Securities are the joint bookrunners on the deal. A pricing date has not yet been disclosed.

The article Gastrointestinal biotech AzurRX Biopharma decreases proposed IPO deal size originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

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
Referenced Symbols: AZRX

More from Renaissance Capital


Renaissance Capital

Renaissance Capital


Research Brokers before you trade

Want to trade FX?