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ARTICLE | Financial News

Arsanis rises on $60M IPO and private placement

November 16, 2017 6:31 PM UTC

Arsanis Inc. (NASDAQ:ASNS) jumped $4.03 (40%) to $14.03 on its first day of trading Thursday after raising $60 million in an IPO on NASDAQ and a concurrent private placement. The company raised $40 million through the sale of 4 million shares in the IPO underwritten by Citigroup, Cowen and Piper Jaffray and $20 million through the sale of 2 million shares in the private placement to New Enterprise Associates. The price of both offerings was $10 per share, which values the company at $136.9 million.

Next half, Arsanis expects to report interim data from a Phase II trial of ASN100 to prevent Staphylococcus aureus pneumonia in high-risk, mechanically ventilated patients...