Receptos, a biotech with a Phase 3 drug candidate for relapsing multiple sclerosis, announced terms for its IPO on Thursday. The San Diego, CA-based company plans to raise $71 million by offering 4.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Receptos would command a market value of $257 million.
Receptos, which was founded in 2008 and booked $9 million in revenue for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol RCPT. Receptos initially filed confidentially on 2/13/2013. Credit Suisse, Leerink Swann and BMO Capital Markets are the joint bookrunners on the deal.
