Anti-inflammatory biotech Aquinox Pharmaceuticals sets terms for $41 million IPO
Aquinox Pharmaceuticals, a clinical-stage biotech developing
novel drug candidates to treat inflammation and cancer, announced
terms for its IPO on Friday. The Vancouver, Canada-based company
plans to raise $41 million by offering 3.7 million shares at a
price range of $10 to $12. At the midpoint of the proposed range,
Aquinox Pharmaceuticals would command a fully diluted market
value of $107 million.
Aquinox Pharmaceuticals, which was founded in 2003, plans to list on the NASDAQ under the symbol AQXP. Aquinox Pharmaceuticals initially filed confidentially on November 18, 2013. Jefferies and Cowen & Company are the joint bookrunners on the deal.