Biotech Agios Pharmaceuticals sets terms for $75 million IPO

By Renaissance Capital,

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Agios Pharmaceuticals, a pre-clinical stage biotech developing small molecule treatments for cancer and inborn errors of metabolism, announced terms for its IPO on Friday. The Cambridge, MA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Agios Pharmaceuticals would command a market value of $441 million.

Agios Pharmaceuticals, which was founded in 2007 and booked $25 million in collaboration revenue for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol AGIO. The company initially filed confidentially on May 23, 2013. J.P. Morgan and Goldman Sachs are the joint bookrunners 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
Referenced Stocks: AGIO

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