Lackluster debut for Entasis Therapeutics as market cools to novel antibiotics
The market has been lukewarm about novel antibiotics, and Entasis Therapeutics Holdings Inc (NASDAQ: ETTX) proved vulnerable. The stock tumbled nearly 29% in its stock market debut Wednesday, ending trading at $10.66. It was up 0.84% at the market open Thursday.
The antibiotics group, a spinout from AstraZeneca PLC (NYSE:AZN) had a lackluster debut, pricing shares at $15 apiece, below the $16 to $18 range. But the biotech was able to raise $75 million after upsizing the number of shares on offer to 5 million.
READ: SurveyMonkey prices IPO above range at $12 per share
Waltham, Massachusetts-based Entasis Therapeutics is a clinical stage biopharmaceutical company, focused on the discovery, development, and commercialization of novel antibacterial products to treat serious infections caused by multi-drug resistant gram-negative bacteria.
Credit Suisse and BMO Capital Markets were joint book-runners.
Contact Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/205884/lackluster-debut-for-entasis-therapeutics-as-market-cools-to-novel-antibiotics-205884.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).
| Online: | |
| Visits: | 1,599,581,491 |
| Stories: | 8,139,559 |
Whistler Blowers, Insiders
