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ChemoCentryx, Inc. Sets $14-$16 Range for IPO


1/26/2012 8:36:44 AM

ChemoCentryx Inc. on Monday set a target range of $14 to $16 for its initial public offering.

The target at the top of the range would bring in $64 million, slightly less than the $69 million the Mountain View biopharmaceutical company filed for back in October.

ChemoCentryx, focused on the treatment of autoimmune diseases, inflammatory disorders and cancer, said it plans to offer 4 million shares. At the mid-point of the proposed range, its market value would be $555 million.

This is the second try at an IPO for ChemoCentryx, which was founded in 1997. It withdrew a previous filing in 2008.

In the nine months ended Sept. 30, ChemoCentryx said its loss grew to $22.8 million from $8.2 million in the same period the year before. Revenue shrank to $5.6 million from $21.7 million.

The company plans to list on the Nasdaq under the symbol CCXI.

J.P. Morgan and Citi are the lead underwriters on the deal.



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