Trevena, a clinical-stage biotech developing treatments for acute heart failure, announced terms for its IPO on Wednesday. The King of Prussia, PA-based company plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Trevena would command a market value of $291 million.
Trevena, which was founded in 2007, plans to list on the NASDAQ under the symbol TRVN. Trevena initially filed confidentially on September 6, 2013. Barclays and Jefferies are the joint bookrunners on the deal.
