Durata Therapeutics (DRTX) IPO Opens Slightly Higher

The IPO for Durata Therapeutics (Nasdaq: DRTX) is open for trading. Shares are trading at $9.54 after pricing 7,500,000 shares of common stock at $9.00 per share, below the expected range of $11-$13. The offering sized was raised from 6,250,000 shares.

BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering. RBC Capital Markets, LLC and Wedbush PacGrow Life Sciences are acting as the co-managers for the offering.

Durata Therapeutics is a pharmaceutical company focused on the development and commercialization of novel therapeutics for patients with infectious diseases and acute illnesses. Durata is currently enrolling and dosing patients in two global Phase 3 clinical trials with its lead product candidate, dalbavancin, for the treatment of patients with acute bacterial skin and skin structure infections, or abSSSI.

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