Friday, May 9, 2014

Alder Biopharmaceuticals Flat In IPO

Bothell-based Alder Biopharmaceuticals was flat in its IPO Thursday, debuting at $10 per share, below an earlier estimate of $13.00 to $15.00 per share. The company continued to trade at around its opening price on Friday. Alder Biopharmaceuticals is trading on the NASDAQ Global Market as ALDR. Alder Biopharmaceuticals was venture backed by Sevin Rosen, Ventures West 8, Novo A/S, H.I.G. Venture Partners, Delphi Ventures, TPG Biotechnology Partners II, and others. Alder is developing treatments for migraines, rheumatoid and psoriatic arthritis, and other conditions.