A dry spell is broken
While it had begun to look as if not a single IPO or follow-on would get done this quarter, the spell was finally broken on Friday as Invitrogen (IVGN) raised $45 million in its IPO, following a $13 million follow-on by Aronex (ARNX) earlier in the week.
The last IPO was a £10 million ($17 million) EASDAQ flotation on Dec. 17 by Antisoma (EASD:ASOM), coincidentially on the same day as the last follow-on in which Anesta (NSTA) raised $59.5 million.
IVGN, which sells research tool kits for genetics and molecular biology, priced its 3 million shares at $15, the price at which the company originally filed in December. Friday's close of $15.375 values the company at $194 million.
ARNX sold 6 million shares at $2.1875, and closed Friday at $2.719, up $0.344 on the week. The FDA is reviewing the company's NDA for Atragen, an injectable formulation of all-trans retinoic acid to treat patients with acute promyelocytic leukemia (APL).
There's IPO activity in Canada as well. AnorMed, a developer of metal-based drugs for cancer, AIDS and inflammatory diseases, plans to close its C$30.5 million (US$20.5 million) IPO this Friday. A C$6.10