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Audeo Oncology sets terms for $49 million IPO

Posted
11/15/2012 1:12:00 PM
By: Renaissance Capital
Referenced Stocks:AURX

Audeo Oncology, which utilizes Hyaluronic Acid Chemotransport Technology to increase the effectiveness of anti-cancer drugs, announced terms for its IPO on Thursday. The San Francisco, CA-based company plans to raise $49 million by offering 3.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Audeo Oncology would command a fully diluted market value of $163 million. Audeo Oncology, which was founded in 2006 and did not record revenue for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol AURX. Leerink Swann and Oppenheimer & Co. are the joint bookrunners on the deal.