ARTICLE | Finance

A crack opens for preclinical IPOs

Tengion hopes to follow CorMedix with preclinical biotech IPOs

March 29, 2010 7:00 AM UTC

If it prices its IPO this week as expected, regenerative medicine company Tengion Inc. would follow CorMedix Inc. as the second biotech to go public in this window with a lead candidate in preclinical development.

Tengion hopes to sell 4.4 million shares at $8-$10. A $9 price would raise $40 million and value the company at $97.2 million...