Dicerna priced its IPO at $15 yesterday. This was already up from original projection of $11 - $13. Lo and behold though, it closed the day with a stock price triple that IPO tag at $46! Te company now has a market cap of more than $700 M.
This is quite a change for the RNAi market over the past couple years. It was only within the last year or so that big investors in RNAi like Merck and Roche were dumping their holdings and taking the write off. RNAi was pretty much left for dead by the side of the road -- struggling with issues like product delivery to the cell.
However, in the past weeks or so, RNAi has really experienced an upturn in its public profile. Alnylam in particular has announced a series of big deals -- first buying Sirna assets from Merck and also announcing a big $700 M development deal with Sanofi. This has certainly put RNAi back on the front pages again. I have to believe this greatly helped Dicerna realize this magnitude of success with its IPO yesterday. See Xconomy.
Posted by Bruce Lehr Jan 31st 2014.