Argos to price initial public sale of stock between $13.00 and $15.00

Deal funds clinical trials and build-out of new manufacturing facility

By Devika Patel

Knoxville, Tenn., Jan. 21 - Argos Therapeutics, Inc. will sell 4.25 million common shares in its initial public sale with a 30-day greenshoe of 637,500 additional shares, according to a Form S-1/A filed Tuesday with the Securities and Exchange Commission. The deal was announced on Dec. 30.

The shares will be sold at a price expected to fall between $13.00 and $15.00 per share.

Piper Jaffray, Stifel and JMP Securities are the joint bookrunners, and Needham & Co. is the co-manager.

Proceeds will be used for clinical trials, planned leasing, the build-out and equipping of a new commercial manufacturing facility, to pay a success fee to a former lender and for working capital and other general corporate purposes.

The biopharmaceutical company is based in Durham, N.C. It expects its shares will trade on the Nasdaq under the symbol "ARGS."

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