Strong debut for Zafgen

Shares of new IPO Zafgen (ZFGN +1.2%) currently exchange hands for 24% above yesterday's offering price of $16 giving it a market cap of $430M. The company's lead product is beloranib, in Phase 2 clinicals to evaluate its safety and efficacy as a treatment for obesity.

The company has yet to produce any revenue. The IPO increased its cash and cash equivalents stake to ~$126M. It has spent ~$6M/year over the past three years developing beloranib. Operations consumed $15M in cash last year.

Related tickers: (VVUS -0.2%) (ARNA -1.2%) (OREX -2.6%)

From other sites
Comments (5)
  • Patent News
    , contributor
    Comments (1474) | Send Message
    when there are 3 mediocre companies all pushing obesity pills why is a 4th needed?
    20 Jun 2014, 12:15 PM Reply Like
  • gary mcgaffic
    , contributor
    Comments (8) | Send Message
    Strange market preformance for arna.talked to my endocrinologist yesterday,she has written one script so far.and this is a large practice.I tried BELVIQ very small pill didn't do much. my pharmacist said on my next refill that the drug was very pricey for what it was and that there were far more effective and less costly drug on the market. you can see what's going on behind the seens
    20 Jun 2014, 12:22 PM Reply Like
  • bubblehead
    , contributor
    Comments (14) | Send Message
    Metap2 inhibition kills developing embryos.......another toxic target.
    20 Jun 2014, 12:30 PM Reply Like
  • rkd1961
    , contributor
    Comments (91) | Send Message
    Sounds like a great short target
    20 Jun 2014, 05:36 PM Reply Like
  • rkd1961
    , contributor
    Comments (91) | Send Message
    Sounds like a great target for shorts.
    20 Jun 2014, 05:40 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs