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Originally published July 24, 2014 at 7:29 AM | Page modified July 25, 2014 at 11:11 AM

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Immune Design raises $60M in IPO

Seattle biotechnology company Immune Design said early Thursday its initial public offering of stock was priced at $12 per share, for an offering total of $60 million before costs.


By Seattle Times business staff

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Seattle biotechnology company Immune Design said early Thursday its initial public offering of stock was priced at $12 per share, for an offering total of $60 million before costs.

The stock, which trades on Nasdaq under the symbol IMDZ, traded as high as $12.81 in morning trading in New York. But it gave up much of those gains and ended the session up a nickel, or 0.4 percent, at $12.05.

The IPO priced at the lower end of the $12 to $14 range indicated in previous regulatory filings.

The company is developing immune-based therapies to fight cancer and plans to use the IPO’s proceeds to complete phase 1 clinical trials and advance development of its drug candidates targeting breast cancer, melanoma, non-small cell lung cancer, ovarian cancer, sarcoma or Merkel cell carcinoma.



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