Intercept Pharmaceuticals, which is focused on the development and commercialization of therapeutics for chronic liver disease, announced terms for its IPO on Thursday. The New York, NY-based company plans to raise $60 million by offering 4.3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Intercept Pharmaceuticals would command a market value of $210 million.
Intercept Pharmaceuticals, which was founded in 2002 and booked $3 million in revenue for the 12 months ended June 30, 2012, plans to list on the NASDAQ under the symbol ICPT. BofA Merrill Lynch is the lead bookrunner on the deal.
