Obesity biotech Zafgen sets terms for $75 million IPO

By Renaissance Capital,

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Zafgen, a clinical-stage biotech developing treatments for obesity, announced terms for its IPO on Thursday. The Cambridge, MA-based company plans to raise $75 million by offering 5.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Zafgen would command a fully diluted market value of $330 million. Zafgen, which was founded in 2005 and is backed by Atlas Venture, Third Rock Ventures and Fidelity, plans to list on the NASDAQ under the symbol ZFGN. It initially filed confidentially on January 31, 2014. Leerink Partners and Cowen & Company are the joint bookrunners on the deal. It is expected to price the week of June 16, 2014.

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: ZFGN

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