Replidyne Inc. is ready to go public.
The Louisville-based biopharmaceutical company hopes to raise up to $100 million through an initial public offering of stock, according to a filing this week with the U.S. Securities and Exchange Commission.
Replidyne will trade on the Nasdaq Stock Market under the symbol RDYN.
Merrill Lynch Co., Morgan Stanley, Cowen & Company and Pacific Growth Equities LLC will underwrite the offering.
The number of shares to be offered and the initial price were not disclosed. The $100 million offering size is estimated and could change, the filing stated.
Net proceeds from the IPO will fund clinical trials and other research, pay for future licensing agreements and help fund the pending commercial launch of the company’s most promising antibiotic drug, Orapem.
The company develops antibiotics to treat infections caused by drug-resistant bacteria. It last year landed one of the nation’s largest venture-capital deals, a $62.5 million investment.
Like many nascent biotechnology firms, Replidyne is losing money. The company reported a net loss of $33.7 million in 2005, compared with a loss of $19.2 million in 2004.
“If we are not able to commercialize Orapem, we will not generate product revenues for several years, if at all,” the company acknowledged in a section of the filing titled “Risk Factors.”
Staff writer Will Shanley can be reached at 303-820-1260 or wshanley@denverpost.com.
