Metabolic disease biotech Akero Therapeutics sets terms for $75 million IPO

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Akero Therapeutics, a early stage biotech developing therapies for NASH and other metabolic diseases, announced terms for its IPO on Monday.

The South San Francisco, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Akero Therapeutics would command a fully diluted market value of $430 million.

Akero Therapeutics was founded in 2017 and it plans to list on the Nasdaq under the symbol AKRO. J.P. Morgan, Jefferies, Evercore ISI and Roth Capital are the joint bookrunners on the deal. It is expected to price during the week of June 17, 2019.

The article Metabolic disease biotech Akero 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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