BioCentury
ARTICLE | Financial News

Demand continues for new paper

August 4, 2000 7:00 AM UTC

3-Dimensional Pharmaceuticals (DDDP) raised $75 million in its IPO, bringing to $475.4 million the total raised this week in 6 IPOs. DDDP, which uses its DiscoverWorks technology suite to accelerate the drug discovery process, sold 5 million shares at $15 in an offering underwritten by Bear, Stearns; Chase H&Q and U.S. Bancorp Piper Jaffray. The deal has a 750,000-share greenshoe. DDDP originally filed to raise up to $70 million, then amended the filing to sell 4 million shares at $13-$15. On Thursday, it bumped the deal up to 5 million shares. DDDP was up $4.125 to $19.125 (28 percent) on Friday. ...