GlobeImmune IPO to watch: Biopharmaceutical company GlobeImmune, Inc. filed an IPO application for its common stock to get listing on the NASDAQ Global Market under the symbol “GBIM”. Through the public offering, the company intends to raise funds as much as $69 million. GlobeImmune IPO price range and specific number of shares offered have not been disclosed yet in the prospectus.
GlobeImmune, Inc. is a biopharmaceutical company, based on its proprietary Tarmogen® platform, engages in development of therapeutic products for the treatment of cancer and infectious diseases. The company currently has four Tarmogen product candidates in five ongoing clinical trials: GI-4000 for cancers with Ras mutations, GI-5005 for infectious disease, GI-6207 for carcinoembryonic antigen, GI-6301for cancers expressing the brachyury protein.
The company recognized revenues of $2.54 million, $4.07 million and $5.11 million for the years ended December 31, 2009, 2010 and 2011, respectively. Basic and diluted net loss per common share was $11.60, $9.43 and $9.08 for the three years, respectively. For the three months ended March 31, 2012, the company posted an unaudited net loss per share of $1.91 on revenue of $2,65 million, compared to $2.22 on $1.02 million for the same period of the prior year.
The net proceeds from GlobeImmune IPO will be used to advance one or more preclinical infectious disease product candidates through a Phase 2 clinical trial; to prepare manufacturing facility and process for commercial-scale manufacturing; to support manufacturing for our clinical trials; and for working capital and other general corporate purposes.
Wells Fargo Securities, LLC and Piper Jaffray & Co. are working as the lead underwriters of GlobeImmune IPO, JMP Securities LLC is working as the co-manager on this deal.
Read more: GlobeImmune IPO prices at $11 to $13.
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