Biotech company Intrexon files for IPO of up to $125 million
(Reuters) - Biotechnology company Intrexon Corp filed with U.S. regulators to raise up to $125 million in an initial public offering of common stock.
The Palm Beach, Florida-based company told the U.S. Securities and Exchange Commission in a preliminary prospectus that JP Morgan and Barclays were underwriting the IPO.
The filing did not reveal how many shares the company planned to sell or their expected price. (link.reuters.com/qyg59t)
The company intends to list its common stock on the New York Stock Exchange under the symbol "XON".
Intrexon, founded in 1998 by molecular geneticist Thomas Reed, is now controlled by Randal Kirk, who has been the chief executive of the company since 2005.
Kirk was the chairman of Clinical Data Inc which was sold to Forest Laboratories Inc FRX.N for $1.2 billion in 2011.
Net proceeds from the offering would be used to beef up research and development activities, the company said.
The company reported a net loss of $103.9 million on revenue of $13.9 million in 2012.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting by Avik Das in Bangalore)