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Tue, Jan. 5, 7:43 PM
- Acceleron Pharma (NASDAQ:XLRN) has priced its public offering of 3.75M shares of common stock, at $40/share.
- Shares tumbled 10.3% today in the wake of last night's announcement of the offering, to close at $40.22.
- As expected, gross proceeds will come to $150M; underwriters have a 30-day greenshoe option. Net proceeds are expected at about $140.4M, which will be put toward clinical trials and related activities.
- Previously: Acceleron initiates $150M equity offering (Jan. 04 2016)
Dec. 8, 2014, 12:45 PM
Apr. 2, 2014, 12:46 PM
Jan. 23, 2014, 9:12 AM| Jan. 23, 2014, 9:12 AM
Jan. 6, 2014, 9:44 AM
- Citi sees good things ahead for Acceleron Pharma (XLRN +2.4%) in 2014, as analyst Yaron Werber reiterates a Buy rating.
- "In 2014 we expect multiple catalysts, extensive partnership with Celgene, and clinical data to continue to drive interest," Werber says, adding that Citi sees "data in both MDS and thalassemia [being] released at ASCO and EHA in June."
- Price target hiked to $50 from $30.
Sep. 19, 2013, 2:36 PM
- After pricing its IPO at $15 and upsizing its offering 5.58M shares from a prior 4.65M, Acceleron Pharma (XLRN) opened at $18.90 and is currently at $19.13, up 27.5%. That gives the drug developer a market cap of $509M.
- Existing investor/partner Celgene (CELG -0.4%) bought 667K shares in a private placement coinciding with the IPO. The purchase raises Celgene's stake in Acceleron to 12.3%. Acceleron and Celgene teamed up in 2011 to develop the latter's ACE-536 drug, which aims to combat anemia.
- Acceleron had $41.4M in revenue in 1H (up over 5x Y/Y), and net income of $14.7M. In addition to ACE-536, the company is working on cancer and kidney disease drugs.
- S-1, IPO preview
Acceleron Pharma Inc is a biopharmaceutical company. It focuses on the discovery, development & commercialization of novel therapeutic candidates based on the mechanisms that the human body uses to regulate the growth & repair of its cells and tissues.
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