Regado Biosciences (NASDAQ:RGDO) has wrapped up its initial public offering tallying $43 million in gross proceeds.
Regado closed its IPO on Tuesday announcing that it had sold 10.7 million shares at $4 per share. Cowen and Company, LLC and BMO Capital Markets Corp. acted as joint book-running managers for the offering. Canaccord Genuity Inc., Needham & Company, LLC, and Wedbush PacGrow Life Sciences acted as co-managers.
New Jersey-based Regado, which maintains its R&D lab in Research Triangle Park, went public on Aug. 21. When the company priced its IPO plans in May, the company expected to raise as much as $80 million selling stock in the range of $14 to $16 per share. Proceeds would fund further clinical development of its lead candidate REG1, a compound the company is developing to control blood clotting during coronary procedures.
But Regado revised its financial expectations when it went public last week, lowering the stock price and increasing the number of shares sold.
Regado’s REG1 is based on technology originally developed at Duke University.