Antibiotic biotech Dipexium sets terms for $30 million IPO

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Dipexium Pharmaceuticals, a late stage biotech developing a novel antibiotic treatment for diabetic foot ulcers, announced terms for its IPO on Monday. The New York, NY-based company plans to raise $30 million by offering 2.3 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Dipexium Pharmaceuticals would command a fully diluted market value of $101 million.

Dipexium Pharmaceuticals, which was founded in 2010, plans to list on the NASDAQ under the symbol DPRX. Dipexium Pharmaceuticals initially filed confidentially on December 23, 2013. Oppenheimer & Co. is the sole bookrunner on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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