Orphan disease biotech PhaseBio Pharmaceuticals sets terms for $65 million IPO

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PhaseBio Pharmaceuticals, a early-stage biotech developing therapies to treat orphan diseases, announced terms for its IPO on Friday.

The Malvern, PA-based company plans to raise $65 million by offering 5 million shares at a price range of $12 to $14. Insiders intend to purchase up to $25 million of the IPO (38% of the deal). At the midpoint of the proposed range, PhaseBio Pharmaceuticals would command a fully diluted market value of $269 million.

PhaseBio Pharmaceuticals was founded in 2002 and plans to list on the Nasdaq under the symbol PHAS. Citi, Cowen and Stifel are the joint bookrunners on the deal.

The article Orphan disease biotech PhaseBio Pharmaceuticals sets terms for $65 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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