Skin in the game: Dermavant Sciences sets terms for $100 million IPO

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Dermavant Sciences, a Phase 3 biotech developing therapies for dermatological diseases, announced terms for its IPO on Monday.

The London, United Kingdom-based company plans to raise $100 million by offering 7.7 million shares at a price range of $12 to $14. Parent Roivant Sciences intends to purchase $35 million worth of shares in the offering (35% of the deal). At the midpoint of the proposed range, Dermavant Sciences would command a market value of $319 million. 

Dermavant Sciences was founded in 2015 and plans to list on the Nasdaq under the symbol DRMT. Jefferies, SVB Leerink and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of June 17, 2019.

The article Skin in the game: Dermavant Sciences sets terms for $100 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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