Credit: Shutterstock photoStrongbridge Biopharma, which is in-licensing and developing therapies for rare endocrine disorders, announced terms for its US IPO on Monday.
The Trevose, PA-based company plans to offer 4.25 million shares, which would raise $76 million at its current converted price of $17.93 per share on the Norwegian OTC market. At that price, Strongbridge Biopharma would command a fully diluted market value of $423 million.
Chiasma ( CHMA ), also a biotech developing therapies for endocrine disorders, went public in the US in July 2015 at a $450 million market cap and gained 25% on its first day. It now trades 63% above its offer price.
Strongbridge Biopharma, which was founded in 1996, plans to list on the Nasdaq under the symbol SBBP. BofA Merrill Lynch and Stifel are the joint bookrunners on the deal. It is expected to price during the week of September 28, 2015.
The article Endocrine disease biotech Strongbridge Biopharma sets terms for $76 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
