Anacor Pharmaceuticals, which is developing treatments for nail fungus and psoriasis using boron-based chemistry, raised $60 million by offering 12 million shares at $5, as outlined in its amendment filed with the SEC earlier today. The biotech had originally planned to raise $80 million by offering 4.7 million shares at a proposed range of $16-$18. In addition to raising 25% fewer IPO proceeds than expected, Anacor raised $10 million from VC backer Venrock in a concurrent private placement, according to the filing. Anacor Pharmaceuticals plans to list on the NASDAQ tomorrow under the symbol ANAC. Citi and Deutsche Bank Securities acted as lead managers on the deal.
