Date: May 08, 2014 Author: Ben Miller Source: bizjournals (
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Ben Miller
Contributing Editor- Puget Sound Business Journal
Bothell-based biopharmaceutical company Alder BioPharmaceuticals Inc. said it's priced its initial public offering of 8 million shares at $10 per share.
Alder said the shares are expected to begin trading on the NASDAQ Global Market under the ticker symbol "ALDR" on May 8.
"In addition, Alder has granted the underwriters a 30-day option to purchase up to 1,200,000 additional shares of common stock at the initial public offering price to cover over-allotments, if any," the company said in a statement.
Back in March, Alder had originally filed for a $115 million IPO.
Alder, in partnership with Bristol-Myers Squibb, makes a drug called Clazakizumab to treat arthritis and ALD403, a drug aimed at preventing migraines.
