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Securities

Nov. 27, 2010

Weak Biotech IPOs Continue

The initial public offering by Anacor Pharmaceuticals Inc. on Wednesday continued a downward trend for biotechnology IPOs.


By Mandy Jackson


Daily Journal Staff Writer


Anacor Pharmaceuticals Inc.'s initial public offering Wednesday marked a continued downward trend for biotechnology IPOs.


Palo Alto-based Anacor raised $60 million through the sale of 12 million shares priced at $5, but the company had said in a Nov. 2 Securities and Exchange Commission filing that it planned to raise as much as $97.3 million by selling up to 5.4 million shares at $16 to $18.

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