Monday, September 13, 2010

Anacor Pharmaceuticals Files For IPO

Palo Alto-based Anacor Pharmaceuticals, a biopharmaceuticals firm developing small-molecule therapeutics, has filed for an IPO. According to the firm's filing with the SEC, it is looking to raise up to $86.25M in an IPO on the NASDAQ Global Market. The firm said it has been approved to list under the symbol ANAC. The IPO is being underwritten by Citi, Deutsche Bank Securities, Cowen and Company, and Wedbush PacGrow Life Sciences. Anacor is venture backed by Rho Ventures, Venrock Associates, SmithKline Beecham, Care Capital, Aberdare Ventures, and others. The firm had a net loss of $24.85M on revenues of $18.6M in 2009, according to its S-1. The IPO filing is the firm's second try: the company had withdrawn an earlier IPO filing back in 2008.