Conatus Pharmaceuticals announced that it raised US $66 million after unloading 6,000,000 shares priced at $11 per share during the initial public offering.
The stock will trade on NASDAQ beginning July 25, the company said. Piper Jaffray & Co. and Stifel will be acting as the lead underwriters. SunTrust Robinson Humphrey and JMP Securities, meanwhile, were identified as the co-manager and co-lead manager.
Conatus also authorized the underwriters to purchase 900,000 shares of common stock at US $11 per share on a 30-day option for overallotments. The registration statement for the IPO was approved by the Securities and Exchange Commission on July 24, 2013.
Founded in July 2005 by the management team of Idum Pharmaceuticals following its sale to Pfizer, the biotech company has been at the forefront of developing medicines for the treatment of liver diseases.
The San Diego, California-based company is supported by Roche Finance, AgeChem Venture Fund, MPM Capital, Aberdare Ventures and Advent Venture Capital.
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