The biopharmaceutical company, which has raised about $480m in equity funding from backers including Novo and AbbVie, has floated on Nasdaq.
Reata Pharmaceuticals, a US-based biopharmaceutical company backed by pharmaceutical firms Novo and AbbVie, has secured $60.5m in an initial public offering on Nasdaq.
The company issued 5.5 million shares priced at $11 each. The price was below the $14 to $16 range Reata had set, but the company upped the number of shares from four million.
Reata will put $36m of the proceeds into clinical trials for bardoxolone methyl, a treatment it is developing for pulmonary hypertension, and $15m…
