Minerva Neurosciences, a clinical stage biotech developing treatments for CNS diseases, announced terms for its IPO on Tuesday. The Cambridge, MA-based company plans to raise $60 million by offering 5.5 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Minerva would command a fully diluted market value of $187 million. The company has four candidates designed to treat schizophrenia, major depressive disorder ( MDD ), insomnia and Parkinson's disease.
Minerva Neurosciences, which was founded in 2007, plans to list on the NASDAQ under the symbol NERV. It initially filed confidentially on February 14, 2014. Jefferies is the sole bookrunner on the deal.