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Orphan disease biotech Auspex Pharmaceuticals sets terms for $61 million IPO
By: Renaissance Capital
Auspex Pharmaceuticals, a clinical-stage biotech developing
treatments for orphan diseases, announced terms for its IPO on
Friday. The San Diego, CA-based company plans to raise $61
million by offering 5.5 million shares at a price range of $10 to
$12. At the midpoint of the proposed range, Auspex
Pharmaceuticals would command a market value of $231 million.
Auspex Pharmaceuticals, which was founded in 2001, plans to list on the NASDAQ under the symbol ASPX. The company initially filed confidentially on November 21, 2013. Stifel and BMO Capital Markets are the joint bookrunners on the deal.