IPOs

Skin disease biotech Processa Pharmaceuticals sets terms for $20 million IPO

Processa Pharmaceuticals, which is developing an analog therapy for necrotic skin disease, announced terms for its IPO on Friday.

The Hanover, MD-based company plans to raise $20 million by offering 2.5 million shares at a price range of $7 to $9. At the midpoint of the proposed range, Processa Pharmaceuticals would command a market value of $64 million.

Processa Pharmaceuticals was founded in 2011 and booked plans to list on the Nasdaq under the symbol PCSA. It is currently listed on the OTCQB under the same ticker. No underwriter has been selected yet.

The article Skin disease biotech Processa Pharmaceuticals sets terms for $20 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.

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