BioCentury
ARTICLE | Financial News

Tobira postpones IPO

August 8, 2014 2:14 AM UTC

Infectious disease company Tobira Therapeutics Inc. (San Francisco, Calif.) postponed its IPO on NASDAQ, but did not disclose a reason. Last month, the company said it planned to sell 4.6 million shares at $12-$14. At the $13 midpoint, the company would have raised $60 million and been valued at $142.7 million. Tobira filed to raise up to $69 million in the offering in June. BMO Capital Markets; JMP Securities; Oppenheimer; and Nomura were underwriters.

Tobira's cenicriviroc has completed a Phase IIb trial to treat HIV infection, but Tobira plans to advance the compound for the indication with a partner or with non-dilutive financing. Prior to the postponement, the company said it planned to start a Phase II trial of the dual CC chemokine receptor 5 ( CCR5; CD195) and CCR2 antagonist to treat non-alcoholic steatohepatitis (NASH) this half. ...