Ophthotech prices IPO at $22, above the upwardly revised range


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Ophthotech, a late-stage biotech developing novel therapeutics for eye diseases, raised $167 million by offering 7.6 million shares at $22, above the upwardly revised range of $19 to $20. It had previously filed to raise $100 million by offering 5.7 million shares at range of $16 to $19. The company now commands a market cap of $662 million, a 34% increase over its previously proposed market cap of $494 million. Ophthotech, which was founded in 2007, will list on the NASDAQ under the symbol OPHT. Morgan Stanley and JP Morgan were 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

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