BioCentury
ARTICLE | Financial News

Aeglea raises $50M in IPO

April 8, 2016 12:40 AM UTC

Aeglea Biotherapeutics Inc. (NASDAQ:AGLE) shed $0.23 to $9.77 in its first day of trading Thursday after it raised $50 million through the sale of 5 million shares at $10 in an IPO underwritten by UBS, BMO Capital Markets, Wells Fargo and Needham. The offering price valued Aeglea at $129.3 million.

The company proposed the IPO in June 2015, when it said it planned to raise up to $86.3 million. Last month, Aeglea hoped to sell 3.5 million shares at $16-$18. At $17, it would have raised $59.5 million and been valued at $194.3 million. ...