Eye disease biotech Ophthotech increases both shares offered and IPO price range

By
A A A

Ophthotech, a late-stage biotech developing novel therapeutics for eye diseases, raised the proposed deal size for its upcoming IPO on Tuesday. The New York, NY-based company now plans to raise $148 million by offering 7.6 million shares at a price range of $19 to $20. The company had previously filed to offer 5.7 million shares at a range of $16 to $19. At the midpoint of the revised range, Ophthotech would raise 48% greater proceeds than previously anticipated.

Ophthotech, which was founded in 2007, plans to list on the NASDAQ under the symbol OPHT. Ophthotech initially filed confidentially on July 15, 2013. Morgan Stanley and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of September 23, 2013.




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



This article appears in: News Headlines , IPOs

Referenced Stocks: OPHT

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

Stocks

Referenced

100%

Most Active by Volume

33,110,376
  • $113.99 ▲ 1.77%
25,034,179
    $17.98 unch
24,486,872
  • $7.41 ▲ 2.07%
20,864,535
  • $7.39 ▼ 2.76%
18,600,501
  • $8.30 ▼ 0.36%
17,530,211
  • $8.14 ▲ 3.17%
17,299,208
  • $93.79 ▲ 2.74%
14,669,760
  • $25.78 ▼ 0.19%
As of 12/26/2014, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com