GlycoMimetics, a clinical-stage biotech developing treatments for orphan diseases, announced terms for its IPO on Monday. The Gaithersburg, 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, GlycoMimetics would command a market value of $218 million.
GlycoMimetics, which was founded in 2003 and booked $12 million in collaboration and grant revenue for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol GLYC. GlycoMimetics initially filed confidentially on August 21, 2013. Jefferies and Barclays are the joint bookrunners on the deal.
