IPO for "Double Chin" Solver KYTHERA Biopharmaceuticals (KYTH) iPO Opens 16% Higher

October 11, 2012 10:26 AM EDT
The IPO for KYTHERA Biopharmaceuticals, Inc. (NASDAQ: KYTH) opened for trading at $18.49 after pricing 4,400,000 shares at $16, the top end of the expected $14-$16 range.

J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Leerink Swann LLC is acting as lead co-manager and Lazard Capital Markets LLC is acting as co-manager.

KYTHERA Biopharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel prescription products for the aesthetic medicine market. KYTHERA’s product candidate, ATX-101, is an injectable drug currently in Phase III clinical development for the reduction of submental fat, which commonly presents as a "double chin."

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