Aratana Therapeutics, which is focused on the development and commercialization of prescription medication for pets, announced terms for its IPO on Thursday. The Kansas City, KS-based company plans to raise $51 million by offering 4.3 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Aratana Therapeutics would command a market value of $223 million. The company filed for an IPO with a proposed deal size of $58 million in March.
Aratana Therapeutics, which was founded in 2010 and has yet to generate any revenue, plans to list on the NASDAQ under the symbol PETX. Stifel and Lazard Capital Markets are the joint bookrunners on the deal.
