Seeking Alpha

Eleven Biotherapeutics raises $50M in IPO

  • Eleven Biotherapeutics' (EBIO) shares are due to begin trading on Nasdaq today after the company raised $50M in an IPO by selling 5M shares at $10 each. That's below the initial range of $13-15, although Eleven Biotherapeutics was expected to sell only 4.3M shares.
  • There's also a greenshoe option for another 750,000 shares.
  • Eleven Biotherapeutics develops treatments for eye diseases using its proprietary protein-engineering platform, AMP-Rx.
  • The firm's lead candidate is EBI-005, which its developing as a topical treatment for dry eye disease and allergic conjunctivitis. (PR)
  • Seeking Alpha previews: Don Dion; IPOdesktop
  • ETF: IPO
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