Monday, June 11, 2007

Zars Files For IPO

Pharmaceutical company ZARS Inc. announced Monday that it intends to go public in an IPO on the Nasdaq. The firm filed a registration statement with the U.S. Securities and Exchange Commission Friday, saying that it will raise up to $86.25M in its IPO. The number and price of its common stock shares has not yet been determined. Cowen and Company and CIBC World Markets are book-running managers for the offering, and Leerink Swann & Co. and Susquehanna Financial Group are serving as co-managers. Based in Salt Lake City, Utah, ZARS specializes in the development and commercialization of topically applied drugs. The firm is backed by Draper Fisher Jurvetson, Wasatch Ventures, and vSpring Capital.