November 21, 2013
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San Diego-based Vital Therapies Inc., a company developing a cell-based therapy to help people suffering from serious liver disease, announced its fourth quarter financial results on March 19, reporting a net loss of about $14 million compared with a net loss of $10.2 million in the same quarter of 2013.
Vital Therapies Inc. reported a net loss of $10.7 million in its very first quarterly earnings report — the biotech, which is developing treatments for liver failure, began trading on the public markets April 17 with a $61.1 million IPO.
Vital Therapies Inc. lowered the proposed size of its planned initial public offering, according to Renaissance Capital. Vital Therapies now plans to sell 4.5 million shares at $13 to $15 per share, expecting to raise about $63 million.