BioCentury
ARTICLE | Financial News

Xencor, CardioDx postpone IPOs

November 16, 2013 2:25 AM UTC

Antibody company Xencor Inc. (Monrovia, Calif.) and diagnostic play CardioDx Inc. (Palo Alto, Calif.) postponed IPOs due to market conditions, according to Wall Streeters who asked to remain anonymous. On Thursday, Xencor slashed the price to $7 but more than doubled to 10.7 million the number of shares it planned to sell in the offering, keeping the amount to be raised at $75 million. Earlier this month, Xencor had been aiming to sell 5 million shares at $14-$16. Credit Suisse; Leerink; and Wedbush PacGrow are underwriters. CardioDx had amended its offering earlier this month and said it planned to sell 5 million shares at $14-$16. At the $15 midpoint, CardioDx would have raised $75 million. BofA Merrill Lynch; Jefferies; Piper Jaffray; and William Blair are underwriters.

On Thursday, gene therapy company Celladon Corp. (San Diego, Calif.) also postponed its IPO, citing market conditions. Sickle cell disease company GlycoMimetics Inc. (Gaithersburg, Md.) has also been rumored to have postponed IPO plans (see BioCentury Extra, Nov. 14). ...