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[Image omitted] - (http://www.fiercebiotech.com/story/ipos-fibrogen-comes-big-while-neuroderm-limps-out-gate/2014-11-14) Biotech's protracted IPO boom is littered with high-dollar successes and deeply discounted close calls, making Friday's pricings microcosmic as FibroGen ($FGEN) staged an upsized debut and NeuroDerm ($NDRM) took a considerable haircut.
Fibrogen, at work on an oral anemia therapy and an antibody for idiopathic pulmonary fibrosis (IPF), priced 8.1 million shares at $18 each, coming through near the top of its expected range and grossing $146 million. Israel 's NeuroDerm, on the other hand, came in well below its previously expected $13 to $16 a share, moving 4.5 million units at $10 each to bring in $45 million for its Parkinson's disease treatments.
For Fibrogen, a 2013 Fierce 15 honoree, the new cash will support the development of FG-3019,...