Friday, April 8, 2016

Aeglea BioTherapeutics Slips In IPO

Austin-based Aeglea BioTherapeutics slipped in its IPO on Thursday, after pricing its IPO at $10 per share, well below the company's expected initial offering price of between $16.00 and $18.00 per share. Aeglea closed at $9.77 per share in its first day of trading, after rising as high as $10.72 during the day. Aeglea sold 5,000,000 shares of its common stock in the IPO, and is now trading on the NASDAQ Global Market as AGLE. The IPO was underwritten by UBS Investment Bank, BMO Capital Markets and Wells Fargo Securities as well as Needham & Company. Aeglea BioTherapeutics is venture backed by Lilly Ventures Fund, Novartis Bioventures, OrbiMed, Jennison Global Healthcare Master Fund, and others. The company develops therapeutics for treating metabolic diseases and cancer.