PTC Therapeutics, which develops orally administered, proprietary small-molecule drugs that target post-transcriptional control processes, announced terms for its IPO on Wednesday. The South Plainfield, NJ-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, PTC Therapeutics would command a market value of $322 million.
PTC Therapeutics, which was founded in 1998 and booked $29 million in collaboration and grant revenue for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol PTCT. PTC Therapeutics initially filed confidentially in March 2013. J.P. Morgan and Credit Suisse are the joint bookrunners on the deal.
