How this biotech nearly tripled its IPO price with a buyout in less than 4 months

Pharma giant Eli Lilly and Co. will buy small cancer immunotherapy drug developer ARMO BioSciences Inc., a Redwood City company that went public in January, in a $1.6 billion all-cash deal. Lilly's $50-per-share buyout is nearly three times ARMO's (NASDAQ: ARMO) $17-per-share initial public offering price, offering a relatively quick return for investors, including venture capital firms Kleiner Perkins Caufield& Byers and OrbiMed Advisors, whose public shares still were under customary IPO lockups. …
Source: bizjournals.com Health Care:Physician Practices headlines - Category: American Health Authors: Source Type: news