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Acceleron Pharma Prices IPO At $15/Share, At Top End Of Estimated Range

Acceleron Pharma, Inc, a clinical stage biotech developing protein therapeutics for cancer and rare diseases, announced the pricing of initial public offering of 5.58 million common shares at a public offering price of $15.00 per share, before underwriting discounts, which represents top end of the expected range.

In the amended filing with the SEC, the company had expected to price the initial public offering of 4.65 million common shares of between $13.00 and $15.00 per share.

Acceleron has granted the underwriters a 30-day option to buy up to an additional 837,000 shares at the public offering price, less underwriting discounts.

Separately, in a concurrent, side-by-side private placement, Acceleron's collaboration partner, Celgene Corp. (CELG), has agreed to purchase 666,667 shares of common stock from Acceleron at the public offering price.

The Cambridge, Massachusetts-based Acceleron's common stock to begin trading under the ticker symbol "XLRN" on September 19, 2013 on the NASDAQ Global Market.

Citigroup and Leerink Swann are acting as joint book-running managers for the offering. Piper Jaffray & Co. is acting as lead manager and JMP Securities LLC is acting as co-manager for the offering.

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