BioCentury
ARTICLE | Financial News

Receptos, Quintiles set IPO ranges

April 27, 2013 12:23 AM UTC

Autoimmune disease company Receptos Inc. (San Diego, Calif.) and CRO Quintiles Transnational Corp. (Research Triangle Park, N.C.) both amended IPOs on Friday to set proposed ranges. Receptos plans to sell 4.7 million shares at $14-$16. A $15 price would raise $70.5 million and value the company at $256.6 million. The company proposed to raise up to $86.3 million in the offering earlier this month. Credit Suisse; Leerink; BMO Capital Markets; Wedbush are underwriters.

Receptos' RPC1063 is in a Phase II/III trial to treat relapsing multiple sclerosis (MS), with data from the Phase II portion expected in mid-2014. The product is a selective sphingosine-1-phosphate receptor 1 ( S1PR1; S1P1; EDG1) agonist (see BioCentury, May 28, 2012). ...