ARTICLE | Financial News

Achaogen, Dipexium set IPO terms

February 26, 2014 1:30 AM UTC

Infectious disease companies Achaogen Inc. (South San Francisco, Calif.) and Dipexium Pharmaceuticals LLC (White Plains, N.Y.) both set terms for their respective IPOs on NASDAQ. Achaogen plans to sell 5 million shares at $12-$14. At the $13 midpoint, the company would raise $65 million and be valued at $205.1 million. Credit Suisse; Cowen; William Blair; and Needham are underwriters. This quarter, Achaogen started a Phase III trial to evaluate plazomicin to treat serious bacterial infections due to multidrug-resistant Enterobacteriaceae (CRE). The company, which has an SPA from FDA for the trial, has rights to the next-generation aminoglycoside antibiotic from Isis Pharmaceuticals Inc. (NASDAQ:ISIS). ...