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Xcel Pharmaceuticals Advances IPO Plans, Looks to Raise $75 Million.

By Penni Crabtree, The San Diego Union-Tribune Knight Ridder/Tribune Business News

Aug. 26--Xcel Pharmaceuticals has filed to raise $75 million in an initial public offering, the second local drug firm in two weeks to decide to test Wall Street's appetite for new public companies.

The San Diego specialty pharmaceutical company, which markets drugs to treat epilepsy and migraine, filed an IPO late Friday with the Securities and Exchange Commission. A week earlier, Carlsbad's CancerVax filed to raise $115 million to finish development of its experimental

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