The Glaxo and Techne-backed biopharmaceutical firm dropped its price to $10 and issued an extra 500,000 shares prior to its flotation yesterday.
US-based biopharmaceutical company ChemoCentryx floated on Wednesday with stock priced at $10.00 per share, down from the $14-$16 range it set on 23rd January. Additionally, 4.5 million shares were issued, up from the 4 million originally cited in ChemoCentryx’s prior filing.
ChemoCentryx, which develops orally-administered drugs to treat cancer, inflammatory diseases and autoimmune diseases, will use the money to advance three of its drug candidates through clinical trials, particularly a drug that combats kidney damage in diabetes sufferers.
The two…
