Shares of Reata Pharmaceuticals Inc. (NASDAQ:RETA) climbed 18.8 percent to $13.07 from an IPO price of $11 on Thursday, in which the sale of 5.5 million shares raised net proceeds of $52.5 million. Funds from the offering, which had initially been slated to raise as much as $64 million, will be used to advance Reata’s lead antioxidant inflammation modulator (AIM), bardoxolone methyl, through a phase III trial and additional phase II programs. Another AIM, omaveloxolone, will also be moved through phase II.