Trius Therapeutics, which is developing an antibiotic for serious gram-positive Staph infections, lowered the proposed deal size for its upcoming IPO on Monday. The San Diego, CA-based company now plans to raise $50 million by offering 10 million shares at a price of $5 per share. The company had previously filed to offer 6 million shares at a range of $12-$14. At the mid-point of the revised range, Trius Therapeutics will raise -36% fewer proceeds than previously anticipated. Trius Therapeutics, which was founded in 2004 and booked $5 million in sales last year, plans to list on the NASDAQ under the symbol TSRX. Citi, Piper Jaffray and Canaccord Genuity are the lead underwriters on the deal.
