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Agios Pharmaceuticals Inc Unveils Estimated Terms Of IPO-DJ

Tuesday, 16 Jul 2013 05:38pm EDT 

Dow Jones reported that Agios Pharmaceuticals Inc planned Initial Public Offering (IPO) to raise funds to fund research and development of the Company's pipeline of early-stage cancer treatments. The Company expects to offer five million shares in an estimated range of $14 to $16 a share, according to a filing with the Securities and Exchange Commission. Agios last month filed plans to raise up to $86 million in common stock. On July 16, 2013, the Company said the IPO would raise net proceeds of about $67.5 million, assuming shares price at the midpoint of the estimated range. Celgene has agreed to purchase about $12.8 million of Agios shares in a separate private placement concurrent with the completion of the IPO, at a price equal to the public offering price. 

Company Quote

1.55 +1.58%
10:43am EST