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Massachusett's Zafgen Lines Up $86 Million IPO To Bankroll Obesity Drug Push


4/21/2014 6:56:33 AM

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Zafgen signaled an IPO was likely on the way last year when it added firms like RA Capital, which typically back public companies, to its pool of investors. So perhaps it’s no surprise that the Cambridge, MA-based company has become the latest biotech to join the crowded IPO queue. Zafgen is planning to raise up to $86.25 million by taking itself public, according to a prospectus the company filed with the Securities and Exchange Commission. Zafgen would use the cash to gear up a slate of mid- and late-stage trials for its fat-burning drug candidate, beloranib. Zafgen would trade on the Nasdaq under the ticker symbol “ZFGN.”

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