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Senomyx IPO shares discounted more than 50 percent: firm follows trend of other local early stage companies.

Publication: San Diego Business Journal
Publication Date: 28-JUN-04
Format: Online - approximately 639 words
Delivery: Immediate Online Access
Full Article Title: Senomyx IPO shares discounted more than 50 percent: firm follows trend of other local early stage companies.(Biotech)(Initial Public Offering)

Article Excerpt
Following the disappointing trail of preceding local biotech IPOs, San Diego-based Senomyx Inc. also recently priced its initial public offering well below the expected range.

Moreover, Senomyx's priced IPO of 6 million shares at $6 a share--a 57.1 percent discount from its anticipated $13 to $15 range--was the "biggest discount of all biotech IPOs so far this year," said Melanie Hase, a senior IPO analyst with Renaissance Capital in Greenwich, Conn.

The second-biggest discount came from Momenta Pharmaceuticals of Cambridge, Mass., which priced on June 21 at $6.50 a share, a 54 percent discount to...

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