Another one crawls out the window:
>>NEW YORK, Nov 5 (Reuters) - Drug firm Pharmion Corp., which focuses on the treatment of hematology and oncology patients, priced its initial public offering of 6 million shares at $14 share on Wednesday.
The Boulder, Colorado-based company hopes to use the proceeds to expand its sales and marketing organization and to acquire or license additional late-stage approved products.
The underwriters, led by Morgan Stanley and J.P. Morgan, will be granted the option to buy 900,000 more shares in case of heavy demand for the IPO shares.
Pharmion, which has applied for a Nasdaq listing under the symbol "PHRM" (Nasdaq:PHRM - News), has two products, Thalidomide Pharmion and Vidaza, in advanced stages of development. They were obtained through licensing arrangements with companies including Celgene Corp. (NasdaqNM:CELG - News) and Schering AG (XETRA:SCHG.DE - News), among others.
It has acquired the rights to two marketed products, Innohep to treat blood clots in the deep veins of the legs, and Refludan for heparin-induced thrombocytopenia, an allergic response resulting in an absence of enough cell platelets to enable blood clotting.<<
Cheers, Tuck |
