Business Briefs

Aug. 22, 2013 @ 05:56 PM

Duke spin-out debuts on stock market

BASKING RIDGE, N.J.- Shares in the Duke University spin-out Regado BioSciences, a biopharmaceutical company based in New Jersey, were trading up 20 percent on Thursday, its first day of trading as a publicly traded company.

The company had set an initial price of $4 per share, offering up a total of 10.75 million shares of common stock. The underwriter has a 30-day option to buy another 925,000 shares.

Regado is developing new systems for treatment of cardiovascular diseases. Its lead product candidate, called REG1, is an anticoagulant for use by patients with a variety of acute coronary syndromes undergoing a hospital-based procedure used to open or widen obstructed coronary arteries.