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Glaukos Corp Completed Its IPO This Week; Now Trades Near $28 Mark

Kanak Kanti De

A number of biotechnology IPOs have been completed in June, including Axovant Sciences Ltd (NYSE: AXON). This week saw another biotechnology go public.

Glaukos Corp (NYSE: GKOS), a Laguna Hills, California-based biotechnology company completed its IPO.

Glaukos is an ophthalmic medical technology company engaged in the development and commercialization of products and procedures for the treatment of glaucoma.

Glaukos launched its IPO on June 15, a few days after Axovant completed its IPO. The company offered 5,358,000 shares of its common stock at a price range of $13 per share to $15 per share. The underwriters were given a 30-day option to purchase up to an additional 803,700 shares. The offering was managed by JP Morgan, BofA Merrill Lynch and Goldman Sachs jointly.

William Blair and Cantor Fitzgerald & Co. acted as co-managers for the offering.

Earlier this week, the company announced the IPO was priced at $18 per share, higher than the initial range. Glaukos also announced that the underwriters participating in its IPO exercised their option to purchase additional 803,700 shares in full. The total net proceeds from the IPO, including proceeds from the option exercise, are expected to be around $112.3 million.

Glaukos has launched iStent Trabecular Micro-By-pass Stent, which is the first Micro-Invasive Glaucoma Surgery (MIGS) device, in the U.S. in 2012.

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