KYTHERA Biopharma sets terms for $60 million IPO

By Renaissance Capital,

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KYTHERA Biopharmaceuticals, a biotech developing an injection to reduce fat around the chin, announced terms for its IPO on Monday. The Calabasas, CA-based company plans to raise $60 million by offering 4.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, KYTHERA Biopharmaceuticals would command a fully diluted market value of $275 million. KYTHERA Biopharmaceuticals, which was founded in 2005 and booked $26 million in sales for the 12 months ended 6/30/2012, plans to list on the NASDAQ under the symbol KYTH. 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: KYTH

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