Bay Area's Ardelyx Inc. Lowers IPO Target Slightly, Now Hopes To Raise Up To $62 Million
Biotech company Ardelyx updated its IPO plans on Monday, saying it now hopes to raise up to $62 million. That is down from a top target of $69 million that the Fremont company disclosed when it first made its plans public three weeks ago. Ardelyx, led by CEO Michael Raab, works on small molecule treatments for kidney and gastrointestinal disease.
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