12:00 AM
Jun 24, 2013
 |  BioCentury  |  Finance

The $100M club

PTC, bluebird join growing list of biotech IPOs breaching $100M

Duchenne muscular dystrophy company PTC Therapeutics Inc. (NASDAQ:PTCT) and gene therapy play bluebird bio Inc. (NASDAQ:BLUE) last week became the third and fourth biotechs this year to raise more than $100 million in IPOs, putting the total raised by the 20 companies that have gone public at about $1.2 billion.

PTC raised $125.6 million through the sale of 8.4 million shares at $15, which values the company at $335.2 million. PTC had proposed to sell 6.9 million shares at $13-$16.

An MAA is under EMA review for conditional approval of PTC's ataluren (PTC124) to treat nonsense mutation DMD.

bluebird raised $101 million, selling 5.9 million shares at $17, valuing bluebird at $387.8 million. The company had proposed to sell 5 million shares at $14-$16.

This year, bluebird plans to start Phase II/III testing of its most advanced program, stem cell...

Read the full 695 word article

User Sign in

Trial Subscription

Get a 4-week free trial subscription to BioCentury

Article Purchase

$150 USD
More Info >