Avalanche Biotechnologies increases range to $16 to $17

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Avalanche Biotechnologies, an early-stage biotech developing a gene therapy for wet AMD, raised the proposed deal size for its upcoming IPO on Wednesday. The Menlo Park, CA-based company now plans to raise up to $92 million by offering 5.4 million shares at a price range of $16 to $17. The company had previously filed to offer 5.4 million shares at a range of $13 to $15. At the high end of the revised range, Avalanche Biotechnologies would raise 21% greater proceeds than previously anticipated.

Avalanche Biotechnologies, which was founded in 2006, plans to list on the NASDAQ under the symbol AAVL. Jefferies, Cowen & Company and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of July 28, 2014.

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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