BioCentury
ARTICLE | Top Story

IPO quartet pulls in combined $290.1M

November 12, 2015 1:29 AM UTC

Advanced Accelerator Applications S.A. (NASDAQ:AAAP), Voyager Therapeutics Inc. (NASDAQ:VYGR), Wave Life Sciences Ltd. (NASDAQ:WVE) and Curetis AG (Euronext:CURE) all priced IPOs, raising a combined $290.1 million. Advanced Accelerator and Wave priced within their proposed ranges; most biotech IPOs on NASDAQ this quarter have come in below their price ranges (see BioCentury, Oct. 12).

Advanced Accelerator added $8.50 (53%) to $24.50 after it raised $75 million through the sale of 4.7 million ADSs at $16. Each ADS represents two ordinary shares. The IPO price valued Advanced Accelerator at $617.2 million; it ended the day with a market cap of $945.1 million. Underwriters were Citigroup, Jefferies, Canaccord and JMP Securities. Last month, Advanced Accelerator filed to raise up to $75 million. It said earlier this month it hoped to sell 4.7 million shares at $15-$17. By 1Q16, the company plans to submit regulatory applications in the U.S. and EU for Lutathera (177Lu-DOTA0-Tyr3-octreotate) to treat midgut neuroendocrine tumors. Advanced Accelerator has already submitted applications for the candidate's Somakit companion PET diagnostics. ...