Tranzyme Pharma – Biotech IPOs of 2011

Posted under Biotech IPO, Blog, Companies, Diagnostics, Funding, Medical Devices, Medical Supply, Pharmaceuticals, Startups, Tranzyme Pharma, Universities, Videos by Maureen Martino Company: Tranzyme Pharma ($TZYM)
Based: Durham, NC
Raised: $54 million (13.5M shares at $4)
Target range: $11 to $13
Current price: $3,02

Of the handful of developers that went public in 2011, Tranzyme was forced to take one of the deepest cuts to its targeted range. The Research Triangle Park-based company had hoped to raise almost $54 million with its offering but ended up having to triple the number of shares in its offering and slash its per-share price to $4.

Tranzyme, which was founded in 1998, is developing a pipeline of products for gastrointestinal motility disorders. It lead drug is ulimorelin, an intravenous ghrelin agonist meant to aid GI recovery after bowel resection surgery, according to the company's website. The company has completed enrollment of two Phase III trials of ulimorelin, with top-line results expected this year. Tranzyme is also conducting Phase II trials of TZP-102 for the improvement of symptoms related to upper GI motility disorders.