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Biotech Five Prime Therapeutics sets terms for $52 million IPO
By: Renaissance Capital
Five Prime Therapeutics, a clinical stage biotech developing
protein therapeutics, announced terms for its IPO on Wednesday.
The San Francisco, CA-based company plans to raise $52 million by
offering 4.0 million shares at a price range of $12 to $14. At
the midpoint of the proposed range, Five Prime Therapeutics would
command a market value of $198 million.
Five Prime Therapeutics, which was founded in 2001 and booked $26 million in collaboration revenue for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol FPRX. The company initially filed confidentially on June 14, 2013. Jefferies, BMO Capital Markets and Wells Fargo Securities are the joint bookrunners on the deal.