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Tuesday, Mar 19, 2024
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Drugmaker Tocagen to Raise $85 Million in IPO

San Diego drugmaker Tocagen Inc. plans to raise $85 million in an initial public offering, the company announced Thursday.

The clinical-stage gene therapy company will sell 8.5 million shares of its common stock at $10 per share.

The capital will be used, in part, to advance research and clinical studies.

The deal is the second IPO in San Diego so far this year. AnaptysBio Inc. filing the region’s first IPO in January, raising $75 million in an upsized IPO.

Read more on San Diego IPOs – and what to expect in 2017 – in our April 10 story: AnaptysBio’s IPO Success Raises Question: Who Is Next?

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