Acceleron Pharma (XLRN) IPO Surges on Open

September 19, 2013 10:45 AM EDT

Acceleron Pharma IPO Opens Up 23%

The IPO for Acceleron Pharma (NASDAQ: XLRN) opened for trading at $18.50 after pricing 5,580,000 shares of common stock at $15 per share, the high end of the expected $13-$15 range.

Citigroup and Leerink Swann are acting as joint book-running managers for the offering. Piper Jaffray & Co. is acting as lead manager and JMP Securities LLC is acting as co-manager for the offering.

Acceleron is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of novel protein therapeutics for cancer and rare diseases. The company is a leader in understanding the biology of the Transforming Growth Factor-Beta (TGF-β) protein superfamily, a large and diverse group of molecules that are key regulators in the growth and repair of tissues throughout the human body, and in targeting these pathways to develop important new medicines. Acceleron has built a highly productive R&D platform that has generated innovative clinical and preclinical protein therapeutic candidates with novel mechanisms of action. These protein therapeutic candidates have the potential to significantly improve clinical outcomes for patients with cancer and rare diseases.

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