Kindred Biosciences, a clinical-stage biotech developing pet therapeutics, announced terms for its IPO on Monday. The Burlingame, CA-based company plans to raise $40 million by offering 5.8 million shares at a price range of $6 to $8. At the midpoint of the proposed range, Kindred Biosciences would command a market value of $93 million.
Kindred Biosciences, which was founded in 2012, plans to list on the NASDAQ under the symbol KIN. Kindred Biosciences initially filed confidentially on October 2, 2013. BMO Capital Markets and Guggenheim Securities are the joint bookrunners on the deal.
