Late-stage biotech ZS Pharma sets terms for $80 million IPO
ZS Pharma, a late-stage biotech developing a treatment for hyperkalemia, announced terms for its IPO on Friday. The Coppell, TX-based company plans to raise $80 million by offering 5.0 million shares at a price range of $15 to $17. At the midpoint of the proposed range, ZS Pharma would command a fully diluted market value of $351 million.
ZS Pharma, which was founded in 2008, plans to list on the NASDAQ under the symbol ZSPH. ZS Pharma initially filed confidentially on April 4, 2014. J.P. Morgan and Credit Suisse are the joint bookrunners on the deal.
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