Rib-X Pharmaceuticals (RIBX) Looks to Raise $80M in IPO
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Rib-X Pharmaceuticals (Nasdaq: RIBX), an antibiotic developer, Friday announced plans to go public. The company is hoping to raise around $80 million in its initial offering.
Rib-X intends to list on the NASDAQ under the symbol "RIBX."
Underwriters for the offering are Deutsche Bank, William Blair, Lazard Capital Markets and Needham & Company.
The company does not currently offer any products, but does have a nice pipeline. The company’s most advanced product and closest to becoming accepted for sale, is called Delafloxacin. The drug is presently in a Phase 2b clinical study and is designed to help with skin irritation and infection.
Rib-X will use the IPO funds will help major research and development costs which go into the production of pharmaceuticals. As of September 30, the company had $9.7 million in cash and cash equivalents, management spent over $238 million since 2000.
Rib-X intends to list on the NASDAQ under the symbol "RIBX."
Underwriters for the offering are Deutsche Bank, William Blair, Lazard Capital Markets and Needham & Company.
The company does not currently offer any products, but does have a nice pipeline. The company’s most advanced product and closest to becoming accepted for sale, is called Delafloxacin. The drug is presently in a Phase 2b clinical study and is designed to help with skin irritation and infection.
Rib-X will use the IPO funds will help major research and development costs which go into the production of pharmaceuticals. As of September 30, the company had $9.7 million in cash and cash equivalents, management spent over $238 million since 2000.
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