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Trius Therapeutics (TSRX) |
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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Trius Therapeutics (NASDAQ:TSRX): develops and sells antibiotics to combat life-threatening infectious diseases. The company's most advanced drug is entering Phase 3 of clinical trials, which is the final phase.[1] The company predicts that the market for drugs of this caliber is approximately $1.4B. Trius only has one identified competitor in the space with a drug that is already released. However, the Trius's drug is expected to be safer, more effective, and more powerful.[2]
The company plans to continue to expand and develop other antibiotics both independently and through partnerships with other organizations. Trius Therapeutics also competes for government contracts and funding which support the research and discovery of antibiotic compounds.[3] In the past, the company has generated over a $1M in revenue solely from collaborations and grants.[4]
The company's initial public offering of stock is filed on the NASDAQ and went public on August 2nd, 2010. Its initial price range was $12-$14, but the company priced far below the range at $5. To make up for this drop in price, the company raised its offer from 6M shares to 10M, making the deal approximately worth $50M. The lead underwriters of the deal are Citigroup (C) and Piper Jaffray Companies (PJC).[5] The company's IPO is expected to be used to increase funding for operations and to help maintain its $57.5M accumulated deficit.[4]
For FY2009 with year ended 31 December 2009, the company reported total revenues of $5 million, a large increase from $1.33 million in total revenue for FY2008. However, the company had a net loss of $22 million for FY2009, a substantial increase from the $9 million net loss recorded for FY2008. [4]
References
- ↑ National Marrow Donor Program "What Is a Clinical Trial?"
- ↑ TSRX S-1 2010 "Prospectus Summary" pg 1-2
- ↑ TSRX S-1 2010 "Our Strategy" pg 4
- ↑ 4.0 4.1 4.2 TSRX S-1A 2010 "Summary Financial Data" pg 9
- ↑ Renaissance IPO - Trius Therapeutics
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