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Horizon Pharma Lowers its IPO Sights, Prices at $9/Share

By Marie Powers

Friday, July 29, 2011
Horizon Pharma Inc. had its eye fixed on raising $86 million in its initial public offering (IPO), but – like other biotechs this year – had to lower its horizons considerably. The Northbrook, Ill.-based company priced 5.5 million shares of common stock at $9 per share to raise $49.5 million – a 42 percent discount off the aggregate proceeds sought in the company's S-1 filing last year. (See BioWorld Today, Aug. 5, 2010.)

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