By Michael Calia
Alder Biopharmaceuticals Inc. filed for an initial public
offering of up to $115 million in common stock, as the company
looks to fund product development.
The company said it seeks to commercialize therapeutic
antibodies. Its pipeline includes two internally discovered
antibodies--one wholly owned, one shared in a partnership with
Bristol-Myers Squibb--as well as preclinical programs.
Alder said it intends to use the proceeds of the IPO to fund its
continuing clinical program for its wholly owned ALD403 treatment,
preclinical development and general corporate purposes.
Credit Suisse and Leerink Partners are running the offering,
according to the filing.
Alder posted a net loss of $20.6 million in 2013 compared with
$17.8 million in 2012, as total operating expenses increased.
The company intends to list its share on the Nasdaq under the
symbol ALDR.
Write to Michael Calia at michael.calia@wsj.com
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