FGEN News

9 companies went public this week, raising $2 billion in the IPO market as year-to-date issuance surpassed 250 IPOs, almost 25% more than at this point last year. 3 large PE-backed deals, including two LBOs, each traded up over 10% and represented 79% of proceeds, while the 4 smallest companies by market cap had the lowest returns. Even with the S&P 500 near all-time highs,...read more

FibroGen, a biotech backed by Astellas and AstraZenec developing therapies for anemia and fibrosis, raised $146 million by offering 8.1 million shares at $18, toward the top of the $16 to $19 range. FibroGen plans to list on the NASDAQ under the symbol FGEN. Goldman Sachs, Citi and Leerink Partners acted as lead managers on the deal....read more

10 deals are on the IPO calendar to raise $2.2 billion for the week of November 10, 2014. The two largest, auto paint maker Axalta Coating Systems and contract research organization PRA Health Sciences, are both LBOs. Representing 27% of 2014 deal flow (65 to date), biotechs are the...read more

FibroGen, which is developing treatments for anemia and fibrosis using a protein inhibitor platform, announced terms for its IPO on Thursday. The San Francisco, CA-based company plans to raise $124 million by offering 7.1 million shares at a price range of $16 to $19. At the midpoint of the proposed range, it would command a fully diluted market value of $1.1 billion. Even if...read more