Tranzyme Jumps into IPO Queue, Files for $75M Offering.

Staff Writer

Tranzyme Pharma Inc., of Durham, N.C., filed for a proposed $75 million initial public offering to support clinical development of product candidates ulimorelin and TZP-102 for the treatment of acute (hospital-based) and chronic gastrointestinal motility disorders.

The numbers of shares and price have not been determined. The proposed Nasdaq symbol will be "TZYM." Citigroup Global Markets Inc. is acting as sole book-running manager of the offering. Other underwriters are BMO Capital Markets Corp., Canaccord Genuity Inc. and Stifel Nicolaus Weisel Inc.

Tranzyme joins Clarus Therapeutics Inc. u which filed a proposed $86 million IPO to fund work on androgen-based prescription drug products and is seeking a listing under the ticker "CLRS" u and AcelRx Pharmaceuticals Inc., of Redwood City, Calif., in filing with the SEC for IPOs within the past week. (See BioWorld Today, Nov. 16, 2010.)

But going public has been a tough road recently for biotechs and specialty pharma firms.

Earlier this week Zogenix Inc., of San Diego, priced its IPO of 14 million shares of common stock at $4 per share, a total of $56 million before underwriting discounts and commissions. The price is well below …