Targanta Therapeutics IPO Fails to Fire up Investors

Targanta Therapeutics Corp., the latest local biotech company to go public this year, had an underwhelming debut yesterday. First, the Cambridge company was forced to price its initial shares at $10, well below the $12 to $14 range expected. Then, during the first day of trading, shares slipped another 60 cents to $9.40, down 6 percent.

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