Thursday, April 26, 2007
Orexigen Prices IPO
San Diego-based Orexigen, a firm developing treatments for CNS disorders and obesity, priced its IPO yesterday, saying it would offer seven million shares of its common stock at $12.00. The firm will trade on the Nasdaq Global Market as OREX. The firm is venture backed by Domain Associates, Kleiner Perkins Caufield & Byers, Sofinnova Ventures, Scale Venture Partners, Montreaux Equity Partners, Morgenthaler, MPM Bioequities, and Wasatch Advisors. The IPO is worth approximately $84M, and was underwritten by Merrill Lynch & Co., JPMorgan, JMP Securities, and Leerink Swann & Company.