Eye disease biotech Eleven Biotherapeutics sets terms for $60 million IPO

By Renaissance Capital,

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Eleven Biotherapeutics, a clinical-stage biotech developing protein therapeutics to treat eye diseases, announced terms for its IPO on Thursday. The Cambridge, MA-based company plans to raise $60 million by offering 4.3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Eleven Biotherapeutics would command a market value of $206 million.

Eleven Biotherapeutics, which was founded in 2008 and booked $1 million in collaboration revenue for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol EBIO. Eleven Biotherapeutics initially filed confidentially on November 7, 2013. Citi, Cowen & Company and Leerink Partners 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: EBIO

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