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Stemline Therapeutics set terms for $42 million US IPO

By Renaissance Capital,  July 20, 2012, 09:44:53 AM EDT

Stemline Therapeutics, a biotech developing treatments that target cancer stem cells and tumor bulk, announced terms for its IPO on Thursday. The New York, NY-based company plans to raise $42 million by offering 3.5 million shares at a price range of $11.00 to $13.00. At the midpoint of the proposed range, Stemline Therapeutics would command a fully diluted market value of $167 million. Stemline Therapeutics, which was founded in 2003 does not generate any revenue from its product candidates, plans to list on the NASDAQ under the symbol STML. Oppenheimer & Co.and JMP Securities 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.


This article appears in: News Headlines, IPOs

Referenced Stocks: STML



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