January 25, 2006 – SGX Pharmaceuticals, which was known as Structural Genomix until last summer, lowered the expected range of its IPO to $7/$8 from the earlier $11/$13, a decline of 37.5%. The offering size remains at 4 million shares. It is expected that final pricing will take place tonight, with open market trading beginning tomorrow. After the IPO, SGX will have 14 million shares outstanding. We look at the company’s lead drug, its business plan, and its finances...
