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With an inhibitor of the Trk family of receptor tyrosine kinases in phase I, Loxo Oncology Inc. priced an upsized initial public offering (IPO) of about 5.2 million shares at $13 each, raising about $67.6 million for an effort to come up with a best-in-class compound.
A rush of biotechs entered the public market Thursday morning, led by a $102 million upsized initial public offering (IPO) by Avalanche Biotechnologies Inc., which priced at the high end of its previously raised range, selling 6 million shares at $17 apiece and receiving an enthusiastic welcome on Nasdaq.
Health care investment firm Ally Bridge Group, which has offices in Hong Kong and the U.S., warmed up to Cold Genesys Inc., funding the cancer immunotherapy firm's $13.6 million series A.
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