"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."
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.
Acceleron Pharma Inc discovers, develops, and commercializes novel protein therapeutics for novel protein therapeutics for cancer and rare diseases. Its primary product is the biology of the Transforming Growth Factor-Beta protein superfamily.