MacroGenics, a clinical-stage biotech developing monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases, announced terms for its IPO on Tuesday. The Rockville, MD-based company plans to raise $60 million by offering 4.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, MacroGenics would command a market value of $345 million.
MacroGenics, which was founded in 2000 and booked $49 million in collaboration and grant revenue for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol MGNX. MacroGenics initially filed confidentially on August 2, 2013. BofA Merrill Lynch and Leerink Swann are the joint bookrunners on the deal.
