Kythera Biopharmaceuticals raised $70.4 million in IPO financing after pricing 4.4 million shares at the high end of its IPO price range, a rare success for maiden biotech offerings.
The Calabasas, Calif., company, which is developing an injectable treatment for double chins, priced its IPO at $16 per share, or the top end of its estimated range.
Kythera plans to use nearly all proceeds from this IPO financing to pay for late-stage clinical studies of its double-chin treatment, which is labeled ATX-101.
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