E round in the hand vs. IPO in the bush

The stars have yet to align for Argos Therapeutics Inc.'s pursuit of a public listing. An IPO attempt last year fizzled in poor market conditions, and when the window opened several months ago, the company already had lined up a series E round.

Argos closed the $42.5 million series E on Aug. 26. It hopes to raise $17.5 million in a second close within 60 days, said CEO Jeff Abbey. The company added two strategic investors: Pharmstandard International S.A., a holding company of Pharmstandard OJSC (RTS:PHST; LSE:PHST), and Green Cross Corp. (KSE:006280)...