Biotech Enanta Pharmaceuticals sets terms for $60 million IPO
Enanta Pharmaceuticals, a biotech focused on developing small
molecule drugs to use against hepatitis C, announced terms for
its IPO on Tuesday. The Watertown, MA-based company plans to
raise $60 million by offering 4 million shares at a price range
of $14 to $16. At the midpoint of the proposed range, Enanta
Pharmaceuticals would command a market value of $253 million.
Enanta Pharmaceuticals, which booked $69 million in sales for the 12 months ended December 31, 2012, plans to list on the NASDAQ under the symbol ENTA. J.P. Morgan and Credit Suisse are the joint bookrunners on the deal.