Therapeutic biopharma KaloBios sets terms for $50 million IPO
KaloBios, a biopharmaceutical company focused on therapeutics that treat respiratory diseases and cancer, announced terms for its IPO on Tuesday. The South San Francisco, CA-based company plans to raise $50 million by offering 3.9 million shares at a price range of $12 to $14. At the midpoint of the proposed range, KaloBios would command a market value of $239 million. KaloBios, which was founded in 2001 and booked $12 million in contract revenues for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol KBIO. Leerink Swann is the sole bookrunner on the deal.