Rare eye disease biotech Applied Genetic Tech sets terms for $50 million IPO

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Applied Genetic Technologies, a clinical-stage biotech developing treatments for orphan eye diseases, announced terms for its IPO on Wednesday. The Alachua, FL-based company plans to raise $50 million by offering 3.6 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Applied Genetic Technologies would command a fully diluted market value of $188 million. Applied Genetic Technologies, which was founded in 1999 and booked $1 million in sales for the 12 months ended December 31, 2013, plans to list on the NASDAQ under the symbol AGTC. It initially filed confidentially on November 4, 2013. BMO Capital Markets and Wedbush PacGrow 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 The NASDAQ OMX Group, Inc.



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