AztraZeneca-backed biotech Entasis Therapeutics sets terms for $75 million IPO

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Entasis Therapeutics Holdings, a clinical-stage biotech developing therapies for multi-drug resistant bacteria, announced terms for its IPO on Tuesday.

The Waltham, MA-based company plans to raise $75 million by offering 4.4 million shares at a price range of $16 to $18. Insiders intend to purchase $50 million worth of shares in the offering. At the midpoint of the proposed range, Entasis Therapeutics Holdings would command a fully diluted market value of $225 million.

Entasis Therapeutics Holdings was founded in 2015 and booked $5 million in sales for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol ETTX. Credit Suisse and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of September 24, 2018.

The article AztraZeneca-backed biotech Entasis Therapeutics sets terms for $75 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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