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Durata Prices IPO Of 7.5 Mln Shares At $9.00/shr, Before Underwriting Discounts

Durata Therapeutics (DRTX) announced the pricing of its initial public offering of 7.5 million shares of common stock at a public offering price of $9.00 per share, before underwriting discounts.

The shares are scheduled to commence trading on the NASDAQ Global Market on July 19, 2012 under the ticker symbol "DRTX", noted the company.

Durata further stated that the underwriters have an option for a period of 30 days to buy up to an additional 1.13 million shares of common stock from the company at the public offering price, less the underwriting discount. The offering is expected to close on or about July 24, 2012.

by RTT Staff Writer

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This stock comes on our radar on the merit of its upbeat quarterly results. We believe the company has solid growth potential, as it expands through accretive acquisitions. In the next few-months, we see the stock touching new highs, and expect at least 20% upside from current levels. The month of February saw the FDA approve the second drug for Duchenne muscular dystrophy namely Emflaza. Now, let's take a look at the biotech stocks awaiting FDA decision in March. The recent week marked the lull before the storm, with very few market moving economic numbers released during the week. However, the economic news flow picks up pace in the upcoming week, offering glimpses into every vehicle of economic growth, ranging from consumers to private sector activity to housing....
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