Tuesday, September 6, 2005

SGX Files for IPO

San Diego-based SGX Pharmaceuticals (formerly Structural Genomics) has filed for an IPO. The firm said last week that it was looking to raise up to $80.5M in a initial public offering on the NASDAQ under the symbol SGXP. SGX is developing a treatment for Acute Myelogenous Leukemia, a blood cancer. SGX reported a net loss of $12.9M for the six months ending June 30th, on revenues of $9.8M. The IPO is being underwritten by CIBC World Markets, Piper Jaffray, and JMP Securities.