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Biotech Enanta Pharmaceuticals sets terms for $60 million IPO

Posted
3/5/2013 4:10:00 PM
By: Renaissance Capital
Referenced Stocks:ENTA

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.