KaloBios Pharma edges higher following IPO

(AP)—Shares of respiratory drug maker KaloBios Pharmaceuticals are inching higher on the first day of trading.

KaloBios Pharmaceuticals Inc. says its initial public offering of 8.8 million shares priced at $8 per share. The company's stock is now trading on the Nasdaq Global Market under the ticker symbol "KBIO." In early trading the stock gain 9 cents to $8.09.

The underwriters of the offering will have the option to buy another 1.3 million shares to cover any over allotments.

In January KaloBios said it intended to sell 3.9 million shares for $12 to $14 per share.

The company is based in South San Francisco, Calif., and it is studying and treatments for and .

0 shares

Related Stories

Zynga holders plan to sell up to $400M in stock

date Mar 14, 2012

Zynga shareholders may sell up to $400 million of stock through a public offering, three months after the online game maker went public, to try to avoid a drop in its stock price.

Recommended for you

Cardinal Health paying $26.8 million in FTC settlement

date 13 hours ago

Cardinal Health will pay $26.8 million as part of a settlement with the Federal Trade Commission over charges it monopolized the sale in 25 markets of diagnostic drugs known as low-energy radiopharmaceuticals.

Selecting the right tool for the job

date Apr 14, 2015

Randomized clinical trials of new drugs have long been considered the "gold standard" in determining safety and efficacy before drugs, biologics, vaccines or devices are introduced to the general public. However, in the case ...

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.