Dyax
This article was originally published in The Gray Sheet
Executive Summary
Biopharmaceutical company prices initial public offering of 4 mil. shares at $15 each on Aug. 15. Cambridge, Massachusetts-based Dyax' phage display technology is being used to "identify a broad range of compounds with potential for the treatment and diagnosis of disease," the firm states. Proceeds from the IPO are tabbed for R&D, possible acquisitions and working capital. The issue trades on the Nasdaq exchange under the symbol "DYAX." J.P. Morgan, Lehman Brothers and Pacific Growth Equities managed the offering