Aveo expects to $86.3 million in IPO

AP News
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Posted: Dec 17, 2009 2:28 PM

Biotechnology company Aveo Pharmaceuticals Inc. said Wednesday it plans on raising about $86.3 million in an initial public stock offering.

The Cambridge, Mass.-based company has not yet disclosed how many shares it plans on offering or set a pricing range. Aveo plans to list on Nasdaq under the "AVEO" ticker.

The joint book-running managers of the proposed offering will be J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc.

The company's lead product candidate is Tivozanib, which is now in last-stage development as a renal cell cancer treatment.