Friday, April 14, 2017

Tocagen Rises In IPO Debut

San Diego-based gene therapy developer Tocagen rose in its IPO this morning, after pricing at $10.00 per share last night in its initial public offering. Tocagen was trading up around 24% in morning trading, at $12.45 per share, after its debut on the NASDAQ Global Select Market as TOCA. Tocagen is developing clinical-stage, cancer-selective gene therapy products. The company priced its IPO at the low end of an initial estimated $10.00 to $12.00 per share range. The company now has a market cap of approximately $187M. The company is backed by the Irwin Mark Jacobs and Joan Klein Jacobs Family Trust. Jacobs is the co-founder of Qualcomm.