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Biotech Retrophin sets terms for $40 million NASDAQ listing

By: Renaissance Capital
Posted: 1/8/2014 7:42:00 AM
Referenced Stocks: RTRX

Retrophin, which is developing treatments for postpartum milk let-down, Schizophrenia and Autism, announced terms for its NASDAQ listing on Wednesday. The New York, NY-based company plans to raise $40 million by offering 4.8 million shares at $8.30 per share. At the follow-on price, Retrophin would command a market value of $193 million.

Retrophin, which was founded in 2008, plans to list under the symbol RTRX. The company is currently traded on the OTCQB under the same ticker. Jefferies is the sole bookrunner on the deal.