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San Diego's Receptos, Ambit Biosciences, Get Ready for IPO Debuts


5/7/2013 7:52:32 AM

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San Diego-based Receptos, a biotech developing new treatments for immune disorders, is among 13 IPOs expected to go public this week, according to Renaissance Capital, a financial firm in Greenwich, CT, that specializes in IPOs. Another San Diego biotech, Ambit Biosciences, also set a price range for its shares last week, but Ambit was not in the lineup for IPOs ready to take off this week. Receptos plans to raise $71 million by offering 4.7 million shares at a price between $14 and $16 per share, according to Renaissance. The company submitted its IPO filing on Feb. 13 under new securities law that enables companies to submit their registration statement confidentially for SEC review before making their plans public.

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