You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Red Sox Live

12

5

Final

around the region

Lexington biotech raises $84m in IPO

Concert Pharmaceuticals Inc. shares rose 18 cents to $14.18, for a modest gain of 1.3 percent in their opening day of trading on the Nasdaq exchange Thursday after the Lexington biotechnology company raised $84 million in an initial public offering.

The IPO was the fifth by a Massachusetts biotech this year. Concert joined Flexion Therapeutics Inc. of Burlington, Cambridge-based Eleven Biotherapeutics Inc., and Genocea Biosciences Inc. and Dicerna Pharmaceuticals Inc., both of Watertown, in joining the ranks of newly public companies. Nine biotechs from Massachusetts went public in 2013.

Continue reading below

Eight-year-old Concert is developing drugs to treat central nervous system disorders, renal disease, inflammation, and cancer.

In its IPO, the company sold 6 million shares at a price of $14 each, giving underwriters an option to buy an additional 900,000 shares.

A company spokeswoman said Concert executives wouldn’t discuss their plans.

Robert Weisman can be reached at robert.weisman@globe.com. Follow him on Twitter @GlobeRobW.
Loading comments...

Wake up with today's top stories.

Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
or
Please enter a valid email
BostonGlobe.com will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com