Ophthotech, a clinical-stage biotech developing novel therapeutics for eye diseases, announced terms for its IPO on Monday. The New York, NY-based company plans to raise $100 million by offering 5.7 million shares at a price range of $16 to $19. At the midpoint of the proposed range, Ophthotech would command a market value of $494 million.
Ophthotech, which was founded in 2007, plans to list on the NASDAQ under the symbol OPHT. Ophthotech initially filed confidentially on July 15, 2013. Morgan Stanley and J.P. Morgan are the joint bookrunners on the deal.