Durata Therapeutics IPO watch: According to the amendment to Form S-1 submitted by U.S. pharmaceutical company Durata Therapeutics, the company anticipated its IPO (initial public offering) price at $11 – $13. The company will sell aggregately 6.25 million shares in the public offering, on the basis of the midpoint of the announced Durata Therapeutics IPO price range, this deal is valued at $210 million. Durata Therapeutics has applied to trade its common shares on the Nasdaq Stock Exchange under the symbol “DRTX.”
Also read the update: Durata Therapeutics IPO priced lower than expectation.
Durata Therapeutics was founded in 2009, its candidate intravenous fat glycopeptide antibiotic dalbavancin for the treatment of acute bacterial skin and skin structure infections is currently in Phase III development stage. The company had no revenue in 2010 and 2011, and incurred losses of $11.01 million and $33.03 million, respectively. The company expects its product to be completed in 2013, and begin to generate revenue in 2014.
Read the related article: Durata Therapeutics IPO summary.
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