Nasdaq expects GlobeImmune IPO Friday

LOUISVILLE – Biopharmaceutical company GlobeImmune Inc.’s initial public offering is expected to occur Friday, June 27, according to the Nasdaq exchange’s online rundown of upcoming IPOs.

The Louisville-based company initially filed for the IPO in March, but reduced the amount of shares offered in May from nearly 2.2 million to 1,562,500.

Pricing is expected to be in the $15 to $17 range, meaning the offering could be worth a little more than $30 million at the high end of the range if over-allotted shares are included. The company will list on the Nasdaq exchange under the ticker symbol GBIM.

The company has said it would use proceeds from the offering to continue clinical trials and prepare its manufacturing plant for clinical trial and commercial scale manufacturing.

Founded in the mid-1990s as a spinoff of University of Colorado research, GlobeImmune has about 25 employees, and is based at 1450 Infinite Drive, in Louisville.

GlobeImmune filed for an IPO a year ago seeking to raise $69 million, but withdrew the plans in October. In February, the company raised $7.5 million through SternAegis Ventures, an arm of Aegis Capital Corp. in New York. Aegis Capital is the lone book runner for the current IPO.

GlobeImmune is developing drugs to treat pancreatic cancer and hepatitis B and C along with other research products.

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