Portola Pharmaceuticals sets terms for $100 million IPO


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Portola Pharmaceuticals, which is developing therapeutics for patients suffering from blood clots, announced terms for its IPO on Tuesday. The South San Francisco, CA-based company plans to raise $100 million by offering 6.9 million shares at a price range of $13 to $16. At the midpoint of the proposed range, Portola Pharmaceuticals would command a market value of $469 million.

Portola Pharmaceuticals, which was founded in 2003 and booked $72 million in revenue for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol PTLA. Portola Pharmaceuticals initially filed confidentially on 12/21/2012. Morgan Stanley and Credit Suisse 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

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