Aegerion Pharmaceuticals Refiles for IPO

The company did not disclose the expected number or price range of shares to be offered in the IPO, but indicated the offering price could total up to $86.3 million.

Previously, the company planned to sell 5 million shares of common stock at an anticipated price of $12 to $14 per share.

Aegerion noted the total offering price was estimated solely to calculate its registration fee and may change.

The Bridgewater, N.J.-based company cited "market conditions" for its decision to postpone the offering this summer.

Aegerion is developing drugs to treat cardiovascular and metabolic diseases by limiting secretion of cholesterol and triglycerides, collectively referred to as lipids, from the intestine and liver.

The company is developing its product candidates at higher doses to treat patients who suffer from genetic disorders that result in extremely high lipid levels.

Aegerion plans to use its product candidates at lower doses for broader patient populations, particularly for patients who are unable to tolerate statins, the most commonly used class of drugs to lower lipid levels.

For the nine months ended Sept. 30, Aegerion widened its net loss to $14.9 million, from $4.3 million in the first nine months of 2006. The company said it has not generated revenue from its product candidates and may never be profitable.

The company plans to use its net proceeds to repay debt, to fund clinical programs and for general corporate purposes, including potential acquisitions.

Before joining Aegerion, President and Chief Executive Gerald Wisler served as a vice president in cardiovascular and metabolic brand management at Novartis Pharmaceuticals, the U.S. unit of Swiss-based drug developer Novartis AG.

Piper Jaffray and Thomas Weisel Partners are serving as the IPO's lead underwriters. Thomas Weisel had also planned to underwrite the offering before the postponement. Lazard Capital Markets and Collins Stewart are also listed as underwriters.

Aegerion plans to list its shares on the Nasdaq Global Market under the symbol "AEGR."