initial public offerings (IPOs) trading on American exchanges

Thursday, January 26, 2017

=AnaptysBio (ANAB) started trading on the Nasdaq on 26 Jan 2017

San Diego’s AnaptysBio raised $75 million Thursday in an initial public offering, making it the first U.S. biotech to do so this year.

The company sold 5 million shares at $15 apiece. Shares opened for trading Thursday under the ticker ANAB at $16 each.The offering includes a 30-day option to buy up to 750,000 additional shares.

AnaptysBio is developing anti-inflammatory drugs for conditions such as dermatitis, peanut allergy and a form of asthma. It has one drug in clinical trials, ANB020, that is being tested against these three conditions.

In addition, the company is preparing to start clinical trials on drugs for pustular psoriasis and various other inflammatory conditions, and is researching drugs for cancer.

The company has entered into partnerships to advance its drugs. It’s teamed with Celgene for inflammatory drugs and with Tesaro for cancer therapies.

Credit Suisse and Stifel are managing the offering. JMP Securities and Wedbush PacGrow are co-managers.

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