Stemline Therapeutics, a biotech developing treatments that target cancer stem cells and tumor bulk, announced terms for its IPO on Thursday. The New York, NY-based company plans to raise $42 million by offering 3.5 million shares at a price range of $11.00 to $13.00. At the midpoint of the proposed range, Stemline Therapeutics would command a fully diluted market value of $167 million. Stemline Therapeutics, which was founded in 2003 does not generate any revenue from its product candidates, plans to list on the NASDAQ under the symbol STML. Oppenheimer & Co.and JMP Securities are the joint bookrunners on the deal.
