KaloBios Pharma edges higher following IPO

February 1, 2013

(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 .

Explore further: Real estate website Zillow soars in IPO debut

shares

Related Stories

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

March 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.

Shutterstock shares pop after $76.5 million IPO

October 11, 2012

(AP)—Shares of Shutterstock are up 30 percent Thursday after the Internet provider of stock photos and videos raised $76.5 million in its initial public stock offering.

Recommended for you

Sustaining biomedical research: Med school deans speak out

May 27, 2015

Cuts in federal support and unreliable funding streams are creating a hostile work environment for scientists, jeopardizing the future of research efforts and ultimately clinical medicine, according to leaders of the nation's ...

0 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.