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Pain biotech Flexion Therapeutics sets terms for $65 million IPO

By: Renaissance Capital
Posted: 1/29/2014 7:50:00 AM
Referenced Stocks: FLXN

Flexion Therapeutics, which is developing injectable pain therapies for osteoarthritis, announced terms for its IPO on Wednesday. The Burlington, MA-based company plans to raise $65 million by offering 5.0 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Flexion Therapeutics would command a market value of $192 million.

Flexion Therapeutics, which was founded in 2007, plans to list on the NASDAQ under the symbol FLXN. Flexion Therapeutics initially filed confidentially on August 2, 2013. BMO Capital Markets and Wells Fargo Securities are the joint bookrunners on the deal.