Akcea now shooting for $200M-plus as a new lineup of biotech IPOs prep for a launch
Akcea Therapeutics is upping the ante on its IPO.
The Ionis subsidiary originally mapped out a plan to raise $100 million in its initial offering, but in an amended S-1 today the company increased its potential to $155 million, with its partners at Novartis ready to pitch in with $50 million more if Akcea achieves certain financial benchmarks with investors.
Akcea spelled out plans $AKCA to sell 9.62 million shares at $12 to $14 a share with underwriters getting an option on 1.4 million shares. At the midrange, that would leave Ionis with 73.4% of the shares.
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