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BREAKING- Regado Biosciences IPO Open for Trading (RGDO)

6476561087_81b0b36059_zRegado Biosciences (NASDAQ: RGDO)opened for trading at 10:40 a.m. EDT Thursday at a price of $5–25 percent higher than its offering price.

Shares priced at $4–well below the $5 price initially set. The company offered 10.75 million shares raising $43 million. The company initially filed to offer 5 million shares at $14 to $16 but slashed the size of the deal by 44 percent on Monday. This makes Regado an $82 million company–63 percent less than its proposed market cap. It will have about $52 million in cash.


Company Profile:

Regado Biosciences, Inc. is a biopharmaceutical company focused on the discovery and development of novel, first-in-class, actively controllable antithrombotic drug systems for acute and sub-acute cardiovascular indications. Regado is pioneering the discovery and development of two-component drug systems consisting of a therapeutic aptamer and its specific active control agent. The company’s lead product candidate, REG1, is an actively controllable anticoagulant targeting coagulation Factor IXa for use in patients with a wide variety of acute coronary syndromes, or ACS, undergoing a percutaneous coronary intervention, or PCI, a hospital-based procedure used to mechanically open or widen obstructed coronary arteries. The actively controllable product candidates have the potential to improve outcomes, enhance the patient experience and reduce overall treatment costs.

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