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Stock Building Supply expects to turn a profit in second quarter

Stock Building Supply, which filed plans for an initial public offering of stock in June, expects to turn a profit in the second quarter of this year.

The Raleigh-based company reported in an updated securities filing that it expects net income of between $1.3 million and $2.3 million, compared to a loss of $2.2 million during the same period in 2012.

The company expects net sales of between $313.7 million and $315.3 million in the second quarter, or about 27 percent higher than the same period last year. For the first six months of 2013, Stock expects net sales of between $562.4 million and $564 million, up from $434.4 million last year.

Stock attributed the increasing sales to "the improving residential construction market and increased selling prices for lumber and lumber sheet goods."

Chapel Hill's Heat Biologics hoping to raise $16.5 million with IPO

Heat Biologics, a 5-year-old Chapel Hill company developing cancer treatments, hopes to raise $16.5 million in an initial public offering of stock.

The company reported in an updated regulatory filing that the figure is based on its shares being priced at $11, the midpoint of the range being considered.

Heat Biologics has just six employees and another six part-time workers and consultants. It has no products approved for sale, and has lost nearly $6.7 million since its inception.

Chimerix ends first week of trading

Chimerix, the Durham antiviral drug developer, closed at $18.17 per share to cap its first week as a publicly traded company.

Chimerix shares slipped 3.3 percent in Friday trading after a 34-percent surge Thursday, the day the stock went public. The strong response from investors helped Chimerix raise more than $102 million by offering the stock at $14 a share.

The 13-year-old company doesn’t have a prescription drug on the market, but investors have confidence in its experimental treatments for life-threatening viral infections in patients whose immune systems have been compromised by cancer or by drugs.

Chimerix was one of two Triangle companies that made IPO news Thursday. Morrisville-based ChannelAdvisor told the Securities and Exchange Commission it expects to raise as much as $86 million through a public offering.

Chimerix expects to net about $95 million from the stock sale after paying banking fees and commissions. The 46-employee company will use the money for research and development, debt payments and general operations.

Durham drug-development firm Chimerix files to go public

Tags: .biz | Chimerix | IPO

Durham drug-development company Chimerix has filed plans to raise as much as $85 million in an initial public offering of stock.

Chimerix, which had 46 employees as of the end of last year, filed its plans with the Securities and Exchange Commission on Friday.

Last summer the company landed a deal to license its experimental HIV treatment CMX157 to pharmaceutical giant Merck for a $17.5 million upfront payment plus milestone payments that could go as high as $151 million.

Chimerix has recorded net losses in every year since it was founded in 2000. After recording net losses of $25.5 million and $25.6 million in 2010 and 2011, respectively, the company's net loss shrunk to $4.4 million last fiscal year, according to its regulatory filing.

In addition to CMX157, Chimerix is also developing an experimental treatment to treat life-threatening viral infections in patients whose immune systems have been compromised by cancer or drugs. The drug, CMX001

Chimerix expects to enroll patients in a Phase 3 trial for CMX001 this year.

Calif. investor buying up homes in Wake plans to go public

American Homes 4 Rent, the California company that has acquired more than 100 homes in Wake County since late December, is planning an initial public offering of common stock.

The company announced late last month that it plans to submit a registration statement with the Securities and Exchange Commission within 60 days.

The company will use the proceeds from the IPO to acquire and renovate more single-family homes and for general corporate purposes.

Pfizer files IPO for animal health unit

Pfizer's animal health unit on Monday filed plans with regulators for its initial public offering of stock.

The drug company had announced plans to spin off the unit through an IPO in June. The new company, which makes animal vaccines and medicine, will be called Zoetis.

Plans filed with the Securities and Exchange Commission call for Pfizer to sell as much as 20 percent of the new company to the public.  The filing did not give a price range for the shares that will be sold. The IPO is expected to take place next year.

The unit has about $4.2 billion in annual revenue, according to recent filings.

The animal health unit employs about 250 people in North Carolina, 160 of those in Durham at its global poultry headquarters. Many of those workers became Pfizer employees in 2007 when the drug giant bought Embrex, a Durham company that made poultry vaccines.

Durham-based Argos Therapeutics expected to go public this week

Durham drug-development company Argos Therapeutics is expected to make an initial public offering of stock this week.

The company has said in regulatory filings that it hopes to raise as much as $78.8 million.

Argos is in need of cash. Its latest filing with the Securities and Exchange Commission reports that it had $2 million in cash as of Dec. 31, leaving "substantial doubt about our ability to continue as a going concern" without an infusion of cash.

A successful IPO would provide the company with sufficient funds to continue its drug-development efforts through the second half of 2014, the company reported.

Chapel Hill-based Cempra's IPO raises nearly $48 million

Tags: .biz | Cempra | IPO | Nasdaq

Pharmaceutical company Cempra on Friday became the first Triangle company to complete an initial public offering of stock in 10 months, raising nearly $48 million.

That was considerably lower than the nearly $90 million the Chapel Hill company had said it hoped to raise in earlier regulator filings. Cempra sold 8.4 million shares at $6 per share, well below the $11 to $13 price range the company expected.

Underwriters of the offering also have the option an additional 1.2 million shares.
In its first day of trading on the NASDAQ, Cempra shares closed up 6 cents at $6.06. The company’s ticker symbol is CEMP.

Cempra, which has 15 employees, is developing treatments for drug-resistant skin infections and pneumonia. The company has two antibiotics in clinical trials.

Cempra expects offering price of between $11 and $13 for IPO

Cempra Pharmaceuticals expects the offering price for its planned IPO to be between $11 and $13, the Chapel Hill company reported in a regulatory filing last week.

The company, which filed to go public in October, had earlier said it hoped to raise nearly $90 million through the offering.

Cempra is developing treatments for drug-resistant skin infections and pneumonia. The company has two antibiotics in clinical trials.

One targets patients with pneumonia. The other is being tested as a treatment for skin infections, including methicillin-resistant Staphylococcus aureus, or MRSA.
 

Chapel Hill pharma company Cempra files to go public

Cempra Pharmaceuticals, a Chapel Hill company that is developing treatments for drug-resistant skin infections and pneumonia, plans to raise as much as $86.3 million in an initial public offering of stock.

The company submitted plans for an initial public offering to the Securities and Exchange Commission today.

Cempra has two antibiotics in clinical trials.

Cempra raised $46 million in venture capital in May 2009. The company has attracted $78.4 million since it was founded in 2006.

Cempra is just the latest IPO proposed by a Triangle health-care business.

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