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Cancer biotech Cerulean Pharma sets terms for $60 million IPO

By: Renaissance Capital
Posted: 3/31/2014 10:37:00 AM
Referenced Stocks: CERU

Cerulean Pharma, a clinical-stage biotech developing targeted cancer therapies for liver and ovarian cancer, announced terms for its IPO on Monday. The Cambridge, MA-based company plans to raise $60 million by offering 5.0 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Cerulean would command a fully diluted market value of $180 million.

Cerulean Pharma, which was founded in 2005, plans to list on the NASDAQ under the symbol CERU. It initially filed confidentially on January 30, 2014. Leerink Partners is the sole bookrunner on the deal.