Xencor, a clinical-stage biotech developing treatments for severe autoimmune and allergic diseases and cancer, announced terms for its IPO on Monday. The Monrovia, CA-based company plans to raise $75 million by offering 5.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Xencor would command a market value of $325 million.
Xencor, which was founded in 1997 and booked $11 million in sales for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol XNCR. Xencor initially filed confidentially on September 11, 2013. Credit Suisse and Leerink Swann are the joint bookrunners on the deal.
