KYTHERA Biopharmaceuticals Inc completed its initial public offering of 5.1 million shares.

The company initially sold 4.4 million shares for $16 each. IPO underwriters then exercised their options to buy another 660,000 shares. In total, the company raised $72.6 million in net proceeds.

The shares of KYTHERA’s common stock will trade on the NASDAQ Global Select Market under the symbol "KYTH." J.P. Morgan Securities LLC and Goldman, Sachs & Co are acting as joint book-running managers for the offering. Leerink Swann LLC is acting as lead co-manager, and Lazard Capital Markets LLC is acting as co-manager.

KYTHERA’s product candidate, ATX-101, is an injectable drug currently in Phase III clinical development for the reduction of submental fat.

[Source: KYTHERA]