Two genomics IPOs get out

Both deCode (DCGN) and Transgenomic (TBIO) priced their IPOs either at or above the top of their proposed price ranges and sold more than their proposed shares, raising a combined $240 million. Population genomics company DCGN sold 9.6 million shares at $18 per share in its IPO, bringing in $172.8 million and valuing the company at $774 million. The company filed on June 1 to sell 8 million shares at $14-$18 per share. DCGN originally filed on March 9 to raise up to $200 million. The deal, which has a 1.44 million-share overallotment, was underwritten by Morgan Stanley; and Lehman Brothers. DCGN's shares will trade on both NASDAQ and EASDAQ under the same symbol.

TBIO, which is developing its WAVE System to analyze genetic mutations, raised $67.2 million in an IPO that priced Monday evening (see BioCentury Extra, Monday July 17).The company sold 4.48 million shares at $15, giving TBIO a post-money valuation of $266.7 million. The company priced above its June 14 proposal to sell 4 million shares at $12-$14, which followed the company's original filing on March 10 to sell the shares at a maximum price of $14. The deal, which has a 672,000-share overallotment, was underwritten by Chase H&Q; Bear, Stearns; and Dain Rauscher Wessels. ...