ITEK News

There were no initial public offerings in the past week, but recent IPO performance continues to trend up. The 24 IPOs in 2015 now average +18%, including +5% after the first day, its highest point this year. A few highlights from February 2015: • 10 IPOs priced in February, down from 20 in 2014 • These returned 7.5% on average; ...read more

This past week, the set of small health IPOs that had been languishing on the IPO calendar either postponed or went public. • Two small health IPOs raised a combined $52 million • Two small health IPOs postponed indefinitely • Just one best-efforts IPO on the calendar...read more

Inotek Pharmaceuticals, a biotech developing a small molecule eye drop therapy to treat glaucoma, raised $40 million by offering 6.7 million shares at $6.00 per share. At the offer price, it commands a fully diluted market value of $96 million. Insiders intend to purchase up to $18 million of the deal (45% of the float). The biotech is concurrently raising $20 million in debt. ...read more

Inotek Pharmaceuticals, a biotech developing a small molecule eye drop therapy to treat glaucoma, slashed the proposed price of its upcoming IPO on Tuesday. The Lexington, MA-based company now plans to raise $40 million by offering 6.7 million shares at a price of $6 per share. It had previously filed to offer 4.6 million shares at a range of $13 to $15. At the revised price,...read more