Drip feed for Clarus

Clarus Therapeutics Inc., Tranzyme Inc. and Fluidigm Corp. all have joined the IPO queue, with Clarus providing an intriguing twist as it seeks to reach Phase III testing of its OriTex oral testosterone replacement therapy.

Clarus has been put on a drip feed by its investors while the company pursues the IPO to raise up to $86.3 million. The investors have committed to buy up to $10 million in convertible notes in $1 million share increments upon the request of the company...