Akebia and MediWound rise as health IPOs continue

Print
Email
|

Associated Press

Posted on March 20, 2014 at 9:01 AM

Updated Thursday, Mar 20 at 9:02 AM

NEW YORK (AP) — Drug developer Akebia Therapeutics and burn treatment maker MediWound both went public Thursday as the tide of health care initial public offerings continued to rise.

The health care sector has seen more IPOs than any other industry over the last year.

Akebia Therapeutics Inc. raised $100 million before expenses, as the company expanded its IPO to 5.9 million shares and the offering priced at $17 per share. The Cambridge, Mass., company had expected to sell 4.9 million shares at $14 to $17 a share.

Shares of Akebia advanced $6.52 to $23.52 in morning trading.

MediWound Ltd. raised $70 million, as its IPO of 5 million shares priced at $14 each. That was at the low end of MediWound's expectations.

Shares of the Israeli company climbed $3 to $17.

Print
Email
|