Ophthotech, a late-stage biotech developing novel therapeutics for eye diseases, raised the proposed deal size for its upcoming IPO on Tuesday. The New York, NY-based company now plans to raise $148 million by offering 7.6 million shares at a price range of $19 to $20. The company had previously filed to offer 5.7 million shares at a range of $16 to $19. At the midpoint of the revised range, Ophthotech would raise 48% greater proceeds than previously anticipated.
Ophthotech, which was founded in 2007, plans to list on the NASDAQ under the symbol OPHT. Ophthotech initially filed confidentially on July 15, 2013. Morgan Stanley and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of September 23, 2013.
