Biotech Receptos sets terms for $71 million IPO

By Renaissance Capital,

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Receptos, a biotech with a Phase 3 drug candidate for relapsing multiple sclerosis, announced terms for its IPO on Thursday. The San Diego, CA-based company plans to raise $71 million by offering 4.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Receptos would command a market value of $257 million.

Receptos, which was founded in 2008 and booked $9 million in revenue for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol RCPT. Receptos initially filed confidentially on 2/13/2013. Credit Suisse, Leerink Swann and BMO Capital Markets 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: RCPT

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