Anergen Inc. has grossed $14 million in its initial publicoffering of 1.75 million shares of common stock priced at $8.
The stock (NASDAQ:ANRG) closed unchanged at $8.25 onThursday.
The Redwood City, Calif., company is developing protein-baseddrugs called AnergiX to treat autoimmune diseases such asmultiple sclerosis, myasthenia gravis and rheumatoidarthritis.
AnergiX are composed of the soluble form of majorhistocompatibility class (MHC) II combined with an epitope ofan antigen for the particular disease being targeted. The MHCencodes proteins that are responsible for certain types ofimmune response regulation. An epitope is the portion of anantigen that's presented in conjunction with MHC to the T cellreceptor.
Underwriter H.J. Myers Co. Inc. has an option to purchase anadditional 262,500 shares to cover overallotments.
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