Pain treatment biotech Egalet sets terms for $42 million IPO
Egalet, which is developing abuse-deterrent oral products for
the treatment of pain, announced terms for its IPO on Thursday.
The Malvern, PA-based company plans to raise $42 million by
offering 3.5 million shares at a price range of $11 to $13. At
the midpoint of the proposed range, Egalet would command a market
value of $167 million.
Egalet, which was founded in 1995, plans to list on the NASDAQ under the symbol EGLT. Egalet initially filed confidentially on September 17, 2013. Stifel and JMP Securities are the joint bookrunners on the deal.