GILD’s new HCV compound (GS9190) is clearly not from Achillion because GILD mentioned the Achillion compound (GS9132) separately on the CC. (Please see #msg-14112677 for timeline info on both compounds.)
Achillion – Yet another biotech IPO going off below the lower bound of the expected price range. Achillion is a player in HCV and is partnered with GILD on the PI, GS9132.
NEW YORK, Oct 25 (Reuters) - Achillion Pharmaceuticals Inc. on Wednesday raised almost $51.8 million with an initial public offering that priced below a forecast range, according to an underwriter.
The 4.5 million share offering, which represents about a 30 percent stake in the company, sold for $11.50 per share compared with a $14 to $16 forecast range. The pricing gives the company an initial market capitalization of almost $171 million.
The New Haven, Connecticut-based company plans to use proceeds from the offering for clinical trials, development costs, research activities and general corporate purposes. The biopharmaceutical company focuses on the development of treatments for infectious diseases.
Cowen and Co. and CIBC World Markets were the lead underwriters, according to an amended offering document filed with the U.S. Securities and Exchange Commission.
Achillion intends to list its stock on the Nasdaq under the symbol ACHN . <<
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