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Anti-inflammatory biotech Aquinox Pharmaceuticals sets terms for $41 million IPO

By: Renaissance Capital
Posted: 2/28/2014 7:42:00 AM
Referenced Stocks: AQXP

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.