Wednesday, September 5, 2012

GlobeImmune Sets Estimated IPO Pricing Range

Louisville, Colorado-based GlobeImmune, which develops biopharmaceuticals aimed at treating cancer and infectious diseases, has set its estimated initial public offering price. The firm said in a filing that it now expects an IPo at between $11.00 and $13.00 per share. GlobeImmune is selling 5,000,000 shares of its common stock, and is aiing to trade on the NASDAQ Global Market under the symbol GBIM. At that pricing, the firm is set to raise up to $74.75M in its IPO, up from an earlier estimate of $69M in proceeds. GlobeImmune is venture backed by Celgene, HealthCare Ventures, Morgenthaler Partners, Wexford-Kappa Investors, Sequel Ventures, Lilly Ventures, and Medica Venture Partners. The estimated IPO pricing precedes actual pricing of a company's IPO, and is generally set to gauge investor interest in a company as part of the IPO process.