Achaogen Prices IPO Of 6.00 Mln Shares At $12.00 Per Share

(RTTNews) - Achaogen Inc., a clinical-stage biopharmaceutical company developing novel antibacterials to treat multi-drug resistant or MDR gram-negative infections, announced that it has priced its initial public offering of 6.00 million shares of its common stock at a price to the public of $12.00 per share.

The shares are expected to begin trading on The NASDAQ Global Market under the ticker symbol "AKAO" on March 12, 2014.

In addition, Achaogen has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the same price to cover over-allotments, if any. The offering is expected to close on March 17, 2014, subject to customary closing conditions.

Credit Suisse Securities (USA) LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. William Blair & Company, LLC and Needham & Company, LLC are acting as co-managers for the offering.