Reata Pharmaceuticals (RETA) IPO Opens Flat

Today's IPO for Reata Pharmaceuticals, Inc. (Nasdaq: RETA) opened for trading at $11.06 after pricing 5,500,000 shares of its Class A common stock at $11.00 per share. The company was recently looking to offer 4 million shares and expected a pricing range of $14 - $16 per share.

Citigroup, Cowen and Company and Piper Jaffray & Co. are acting as joint book-running managers for the offering.

Reata Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on identifying, developing, and commercializing product candidates that modulate the activity of key regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with a variety of serious or life-threatening diseases. Reata focuses on drugs with novel mechanisms of action that modulate important regulatory proteins, called transcription factors, that coordinate the cellular response to stressors by activating or suppressing the activity of many target proteins.

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