Pair of biopharmas go public

Investor's Business Daily

Tesaro's (TSRO) initial public offering of 6 mil shares priced at $13.50, within the expected range of $12-$15 a share, raising about $81 mil. The biopharmaceutical company had filed plans in March for an estimated IPO of up to $86.3 million. It will use proceeds to help fund development of cancer drug candidates. Exa Corp. (EXA), a maker of performance simulation software for vehicle makers, priced at $10, below its expected $11-$13 range. It sold 6.25 mil shares, raising $62.5 mil. Tesaro shares rose 1.4% to 13.69. Exa fell 2% to 9.80.

View Comments