logo-loader
viewProNAi Therapeutics

ProNAi eases back after almost doubling in trading debut

medical_350_55a9522b73caf.jpg
ProNAi is pioneering a novel class of therapeutics based on our proprietary DNA interference (DNAi) technology platform.

Shares of ProNAi Therapeutics (NASDAQ:DNAI) fell a day after the clinical-stage oncology company made its trading debut following an initial public offering.

ProNAi surrendered 2.5 percent to $30.05 at 2:37 p.m. in New York. The shares almost doubled to as high as $33.75 in its trading debut yesterday.

The cancer-drug company raised $137.7 million by selling 8.1 million shares at $17 a share.

The offering followed the July 2 IPO of venture-backed diagnostics company Natera Inc., whose market value has since reached $1 billion.

ProNAi’s top venture investors included Vivo Capital, Frazier Healthcare, OrbiMed Advisors and Adams Street Partners. The Vancouver-based company trades on the Nasdaq under the ticker symbol DNAI.

Jefferies LLC and BofA Merrill Lynch acted as joint book-running managers for the offering. BofA Merrill Lynch is also serving as ProNAi's Strategic IPO Advisor. Wedbush PacGrow and SunTrust Robinson Humphrey acted as co-managers.

ProNAi is pioneering a novel class of therapeutics based on our proprietary DNA interference (DNAi) technology platform. 

The company’s lead DNAi product candidate, PNT2258, targets BCL2, a widely overexpressed oncogene that is an important gatekeeper of the programmed cell death process known as apoptosis and has been linked to many forms of cancer. 

 

Quick facts: ProNAi Therapeutics

Price: - -

NASDAQ:DNAI
Market: NASDAQ
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Fertoz continues to plan for the future despite extremely...

Fertoz Ltd (ASX: FTZ) Executive Chairman Patrick Avery joined Steve Darling from Proactive Vancouver on Skype to discuss what has been a very tough weather year for the company. Even with that, Avery says the company has been very busy this year signing a number of distribution...

52 minutes ago

2 min read