• Oncomed Pharmaceuticals Inc., of Redwood City, Calif., said it closed its initial public offering of about 5.5 million shares of common stock priced at $17 apiece, including the exercise in full by underwriters to purchase an additional 720,000 shares in overallotments. Funds will be used for clinical and R&D work, including advancing lead internal program, cancer stem cell-targeting demcizumab (OMP-21M18), through Phase II trials. Shares of Oncomed (NASDAQ:OMED), which jumped 60 percent on debut, closed Tuesday at $26.74.
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