Achaogen, which is developing antibiotic treatments for multi-drug resistant infections, raised $72 million by offering 6.0 million shares at $12, at the low end of the $12 to $14 range. Insiders that previously indicated an intent to purchase up to 25% of the deal size did not buy on the offering. Achaogen, which now commands a fully diluted market cap of $211 million, will list on the NASDAQ under the symbol AKAO. Credit Suisse and Cowen & Company acted as lead managers on the deal.
