Thursday, February 3, 2005
Favrille Prices IPO
San Diego-based biotech firm Favrille announced yesterday that it has priced its IPO at $7.00 per share. It is offering 6M shares of its stock on the Nasdaq under the symbol FVRL. Favrille is developing biopharmaceuticals that target treatment of non-Hodkin's lymphoma, and also has candidate pharmaceuticals for treating T-cell lymphoma. Favrille has raised more than $60M in venture capital from Alloy Ventures, Avtech, Boston Life Sciences, DeNovo, Forward Ventures, Needham Capital Partners, Sanderling, and many others. The offering is being underwritten by Bear Stearns & Co., CIBC World Markets, Needham & Company, and AG Edwards and Sons.