San Diego biotech AnaptysBio ended up raising $75 million in an upsized initial public offering Jan. 26, making it the first biotech in the country to go public this year.
The company, which initially priced its IPO at $60 million on Jan. 23, sold 5 million shares (about 1 million more than expected) at $15 apiece.
AnaptysBio, which employs about 50 people in San Diego, is developing antibody product candidates to treat inflammation. The company has entered drug-advancing partnerships with global biotech Celgene Corp. and East Coast biotech Tesaro Inc.
In addition, AnaptysBio has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock.