MacroGenics, which is developing targeted therapeutics for cancer and autoimmune diseases, raised the proposed deal size for its upcoming IPO on Wednesday. The Rockville, MD-based company now plans to raise $80 million by offering 5.0 million shares at $16 per share. The company had previously filed to offer 4.0 million shares at a range of $14 to $16. At a $16 offer price, MacroGenics would raise 33% greater proceeds than previously anticipated.
MacroGenics, which was founded in 2000 and booked $49 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol MGNX. MacroGenics initially filed confidentially on August 2, 2013. BofA Merrill Lynch and Leerink Swann are the joint bookrunners on the deal. It is expected to price during the week of October 7, 2013.
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