Celladon Corporation, which is developing a first-in-class gene therapy for patients with systolic heart failure, lowered the proposed deal size for its upcoming IPO on Tuesday. The San Diego, CA-based company now plans to raise $40 million by offering 5.0 million shares at $8 per share. The company had previously filed to offer the same number of shares at a range of $14 to $16 before postponing on November 13, 2013. At the revised IPO price, Celladon Corporation would raise 47% fewer proceeds than previously anticipated.
Celladon Corporation, which was founded in 2000, plans to list on the NASDAQ under the symbol CLDN. Celladon Corporation initially filed confidentially on September 6, 2013. Barclays is the sole bookrunner on the deal. It is expected to price during the week of January 27, 2014.
