Aveo Sets IPO Price Range at $13-$15 a Share

2/23/10

Aveo Pharmaceuticals, a Cambridge, MA-based developer of cancer drugs, has set a price range of $13 to $15 per share for its proposed initial public offering, according to an SEC filing. The firm says it expects to offer 7 million shares in the IPO, in addition to up to 1.05 million shares that would be sold to cover over-allotments. At $15 a share, the public debut could bring in a total of $120.75 million, according to the company. The company—which estimated it would raise $86.3 million in the IPO when it first revealed its plans to go public in December 2009—plans to list its stock on the NASDAQ stock market under the symbol “AVEO.”

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