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Company News

Archemix sees IPO of 4.5 mln shares at $12-$14 per share

Oct 23 (Reuters) - Archemix Corp on Tuesday registered its initial public offering of 4.5 million shares at an estimated price of $12 to $14 per share.

In an amended filing with the U.S. Securities and Exchange Commission, the biotechnology company said it plans to use the proceeds from the offering to fund the development of its existing and new aptamer therapeutic agents.

It has applied for a Nasdaq listing under the symbol “ARCH.” (Reporting by Anant Vijay Kala in Bangalore)

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