Colorectal cancer biotech Xbiotech prices $76 million IPO at $19 midpoint

(Renaissance Capital's research analysts)Xbiotech, which is developing antibodies for colorectal cancer and various other conditions, raised $76 million by offering 4 million shares at $19, within the range of $18 to $20. 
The IPO was being marketed by WR Hambrecht on a "best efforts" basis. 
The Austin, TX-based company commands a fully diluted market value of $603 million, larger than 92% of 2014 biotechs at the time of their IPOs.
CEO John Simmard previously founded CTL ImmunoTherapies and AlleCure, which merged to form MannKind (NASDAQ: MNKD) in 2001, now a biotech with a $2.1 billion market cap.
Recent antibody biotech IPOs include Alder BioPharmaceuticals (ALDR; +175%) and Xencor (XNCR;+186%).
Xbiotech lists on the NASDAQ under the symbol XBIT. WR Hambrecht acted as a lead manager on the deal.

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