Aegerion Pharmaceuticals, which is developing a drug for an orphan disease that produces fatal levels of cholesterol, lowered the proposed deal size for its upcoming IPO on Friday. The Bridgewater, NJ-based company now plans to raise $48 million by offering 5 million shares at an estimated price of $9.50. The company had previously filed to offer 4.7 million shares at a range of $14-$16. At the mid-point of the revised range, Aegerion Pharmaceuticals will raise -47% fewer proceeds than previously anticipated. Aegerion Pharmaceuticals, which was founded in 2005 and has yet to generate product revenue, plans to list on the NASDAQ under the symbol AEGR. Leerink Swann and Lazard Capital Markets are the lead underwriters on the deal, for which updated timing was not disclosed.
