GlobeImmune IPO reportedly delayed
GlobeImmune had scheduled an IPO for this week, according to Marketwatch, a division of the Wall Street Journal. The IPO has been rescheduled for next week, Marketwatch said, quoting an unnamed underwriting banker familiar with the offering.
Officials involved with Louisville-based GlobeImmune said earlier this week they could not talk about timing or pricing of the offering because of a "quiet period" required by the U.S. Securities and Exchange Commission, the federal regulatory body. Earlier this month, the cancer and infectious-drug company said that it planned to offer 5 million shares of stock between $11 and $13 per share, according to SEC documents related to IPOs.
GlobeImmune said in July that the company expected to use the money for future drug research and to prepare a manufacturing facility. Its stock symbol, GBIM, would be listed on the Nasdaq Global Market, the company has said.
The company's drug products for cancer and infectious diseases are based on its proprietary Tarmogen platform, according to SEC documents. Tarmogens activate a patient's immune system by stimulating a group of white blood cells - called T cells - which destroy infected or malignant cells in the body, according to the documents.
The company's lead pancreatic cancer drug is undergoing clinical trials required by the U.S. Food and Drug Administration before a drug can be marketed and sold commercially. Altogether, GlobeImmune has four Tarmogen products going through five clinical trials.
GlobeImmune is backed by venture capital companies including Morganthaler Partners LLC in Boulder and HealthCare Ventures LLC in Cambridge, Massachusetts, each of which has a 14 percent stake, according to previous SEC filings. Sequel Venture Partners LLC and Wexford Capital LP in Greenwich, Connecticut, each hold a 9 percent stake in the company. Lilly Ventures I LLC in Indianapolis and Medica Venture Partners in Herzliya, Israel, each hold a 6 percent stake.
More breaking news...
Boulder County posts state-low foreclosures
Tickets on sale for BCBR's Mercury 100
Across Colorado, the average was about 1 completed foreclosure sale
The list of 100