Ocular disease biotech Graybug Vision sets terms for $75 million IPO

Graybug Vision, a Phase 2 biotech developing transformative medicines for ocular diseases, announced terms for its IPO on Monday.

The Redwood City, CA-based company plans to raise $75 million by offering 4.7 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Graybug Vision would command a fully diluted market value of $338 million.

The company's lead candidate, GB-102, is an intravitreal injection being developed as a once-every-six months treatment for wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). In its Phase 1/2a trial, GB-102 was well-tolerated in wet AMD patients. GB-102 is currently in a Phase 2b trial for wet AMD, with topline data expected in the 1H21.

Graybug Vision was founded in 2015 and plans to list on the Nasdaq under the symbol GRAY. SVB Leerink, Piper Sandler, Needham & Co. and Wedbush PacGrow are the joint bookrunners on the deal. It is expected to price on Thursday, September 24, 2020.

The article Ocular disease biotech Graybug Vision sets terms for $75 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.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.