Rib-X Pharmaceuticals files for a USD 80 million IPO

Rib-X Pharmaceuticals, a biopharmaceutical company focused on developing new antibiotics, filed on Monday with the SEC to raise up to $80 million in an initial public offering. The New Haven, CT-based company, which was founded in 2000, is unprofitable and has not generated any revenues from product sales since its inception. Rib-X Pharmaceuticals plans to list on the NASDAQ under the symbol RIBX. Deutsche Bank Securities is the lead underwriters on the deal. No pricing terms were disclosed.