SAN FRANCISCO — Achoagen, a South San Francisco-based biopharmaceutical company, tapped a team from Latham & Watkins for counsel on its $72 million initial public offering. A team from Davis Polk advised the underwriters.
The clinical stage company, which develops antibacterial medicines to treat multidrug-resistant infections, jumped nearly 20 percent in its debut after pricing at the low end of its range. It closed at $14.30. The deal marks the eighth IPO to emerge from California so far this year.
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