Braeburn Pharmaceuticals, which is commercializing an implant that delivers long-acting treatment for opioid addiction, announced terms for its IPO on Wednesday.
The Princeton, NJ-based company plans to raise $150 million by offering 7.7 million shares at a price range of $18 to $21. Insiders intend to purchase $50 million worth of shares in the offering. At the midpoint of the proposed range, Braeburn Pharmaceuticals would command a fully diluted market value of $635 million.
Braeburn Pharmaceuticals was founded in 2012 and plans to list on the Nasdaq under the symbol BBRX. J.P. Morgan, BofA Merrill Lynch, Deutsche Bank and Canaccord Genuity are the joint bookrunners on the deal. It is expected to price during the week of January 30, 2017.
