Visterra, which is developing targeted vaccines for influenza and other drug-resistant infectious diseases, announced terms for its IPO on Tuesday.
The Cambridge, MA-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, Visterra would command a fully diluted market value of $228 million.
Visterra was founded in 2007 and booked $15 million in sales for the 12 months ended September 30, 2016. It plans to list on the Nasdaq under the symbol VIST. Leerink Partners and Stifel are the joint bookrunners on the deal. A pricing date has not yet been disclosed.
