TetraLogic Pharmaceuticals, which is developing small molecule therapeutics for the treatment of cancer, lowered the proposed deal size for its upcoming IPO on Tuesday. The Malvern, PA-based company now plans to raise $46 million by offering 6.5 million shares at $7 per share. The company had previously filed to offer 6.4 million shares at a range of $13 to $15. At the midpoint of the revised range, TetraLogic Pharmaceuticals would raise 49% fewer proceeds than previously anticipated.
TetraLogic Pharmaceuticals, which was founded in 2001, plans to list on the NASDAQ under the symbol TLOG. TetraLogic Pharmaceuticals initially filed confidentially on September 16, 2013. Oppenheimer, Guggenheim Securities and Needham & Co. are the joint bookrunners on the deal. It is expected to price during the week of December 9, 2013.
