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KYTHERA Biopharma sets terms for $60 million IPO

Posted
9/24/2012 5:33:00 PM
By: Renaissance Capital
Referenced Stocks:KYTH

KYTHERA Biopharmaceuticals, a biotech developing an injection to reduce fat around the chin, announced terms for its IPO on Monday. The Calabasas, CA-based company plans to raise $60 million by offering 4.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, KYTHERA Biopharmaceuticals would command a fully diluted market value of $275 million. KYTHERA Biopharmaceuticals, which was founded in 2005 and booked $26 million in sales for the 12 months ended 6/30/2012, plans to list on the NASDAQ under the symbol KYTH. J.P. Morgan and Goldman Sachs are the joint bookrunners on the deal.