BioCentury
ARTICLE | Financial News

TetraLogic raises $50.1 million in IPO

December 13, 2013 2:57 AM UTC

Cancer company TetraLogic Pharmaceuticals Corp. (NASDAQ:TLOG) raised $50.1 million in an IPO through the sale of 7.2 million shares at $7, which values TetraLogic at $147.8 million. On Tuesday, the company had amended the offering and said it planned to sell 6.5 million shares at $7. Late last month, TetraLogic was rumored to have postponed its IPO. Earlier in November, the company had amended its IPO and said it planned to sell 6.4 million shares at $13-$15. Oppenheimer; Guggenheim; and Needham are underwriters.

TetraLogic's birinapant (formerly TL32711) has completed a Phase I/II trial for colorectal cancer (CRC) and is in Phase I testing for myelodysplastic syndromes (MDS). The compound is a small molecule peptidomimetic of diablo homolog ( DIABLO; SMAC) that selectively antagonizes multiple inhibitor of apoptosis (IAP) proteins. Next half, TetraLogic plans to start a Phase II trial for MDS. ...