Initial Public Offering
Baird served as co-manager on this offering.
AboutProteon Therapeutics, Inc. (“Proteon” or the “Company”) (NASDAQ-GS: PRTO) recently completed an initial public offering of 7,026,500 shares of common stock at a price of $10.00 per share, generating gross proceeds of $70.3 million. The Company intends to use the net proceeds from the offering to accelerate the commencement of the second Phase 3 clinical trial of PRT-201, to accelerate chemistry and manufacturing controls activities, to fund additional research and development activities and for other general corporate purposes.
Proteon is a biopharmaceutical company developing pharmaceuticals for patients with renal and vascular diseases. The Company’s ongoing Phase 3 clinical trial is evaluating whether a single treatment of PRT-201 can reduce vascular access failure, one of the most serious problems experienced by patients with chronic kidney disease (CKD) undergoing hemodialysis. PRT-201 is an investigational drug that may inhibit neointimal hyperplasia, the growth of tissue inside blood vessels that can result in vessel narrowing and reduced blood flow. PRT-201 has received fast track and orphan drug designations for hemodialysis vascular access indications. The company is headquartered in Waltham, Massachusetts.
For additional information about this transaction, please contact:
- November 2014
- Proteon Therapeutics, Inc.
- Target Location
- North America