Alzheimer's biotech Alzheon sets terms for $70 million IPO

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Alzheon, a late-stage biotech developing small molecule therapies for Alzheimer's disease, announced terms for its IPO on Monday.

The Framingham, MA-based company plans to raise $70 million by offering 5.0 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Alzheon would command a fully diluted market value of $228 million. 

Alzheon was founded in 2013 and plans to list on the Nasdaq under the symbol ALZH. Citi, Piper Jaffray, Canaccord Genuity and JMP Securities are the joint bookrunners on the deal. It is expected to price during the week of April 9, 2018.

The article Alzheimer's biotech Alzheon sets terms for $70 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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