Portola Pharmaceuticals, which is developing therapeutics for patients suffering from blood clots, announced terms for its IPO on Tuesday. The South San Francisco, CA-based company plans to raise $100 million by offering 6.9 million shares at a price range of $13 to $16. At the midpoint of the proposed range, Portola Pharmaceuticals would command a market value of $469 million.
Portola Pharmaceuticals, which was founded in 2003 and booked $72 million in revenue for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol PTLA. Portola Pharmaceuticals initially filed confidentially on 12/21/2012. Morgan Stanley and Credit Suisse are the joint bookrunners on the deal.
