BioCentury
ARTICLE | Financial News

Eidos raises $106M in IPO priced at top of range

June 22, 2018 7:20 PM UTC

Eidos Therapeutics Inc. (NASDAQ:EIDX) added $6.12 (36%) to $23.12 June 20 after raising $106.3 million through the sale of 6.3 million shares at $17 in an IPO underwritten by J.P. Morgan, BofA Merrill Lynch and Barclays. The price, which was at the top end of Eidos' proposed range of $15-$17, valued the company at $608.6 million.

Eidos expects data by year end from a Phase II study of lead candidate AG10 to treat transthyretin (TTR) amyloidosis cardiomyopathy. The company plans to start a Phase III trial early next year of the compound to treat TTR amyloidosis polyneuropathy. AG10 is a small molecule targeting TTR in the blood...