Ocular Therapeutix, which develops and markets eye therapeutics using its sustained-release hydrogel platform, announced terms for its IPO on Friday. The Bedford, MA-based company plans to raise $75 million by offering 5.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, it would command a fully diluted market value of $325 million.
Ocular Therapeutix, which was founded in 2006, plans to list on the NASDAQ under the symbol OCUL. One of the company's products was approved in January and Ocular booked $27,000 in sales for the three months ended March 31, 2014. Morgan Stanley, Cowen & Company and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of July 21, 2014.
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