Achaogen, Dipexium set IPO terms

Infectious disease companies Achaogen Inc. (South San Francisco, Calif.) and Dipexium Pharmaceuticals LLC (White Plains, N.Y.) both set terms for their respective IPOs on NASDAQ. Achaogen plans to sell 5 million shares at $12-$14. At the $13 midpoint, the company would raise $65 million and be valued at $205.1 million. Credit Suisse; Cowen; William Blair; and Needham are underwriters. This quarter, Achaogen started a Phase III trial to evaluate plazomicin to treat serious bacterial infections due to multidrug-resistant Enterobacteriaceae (CRE). The company, which has an SPA from FDA for the trial, has rights to the next-generation aminoglycoside antibiotic from Isis Pharmaceuticals Inc. (NASDAQ:ISIS). ...