Recro Pharma, a clinical-stage biotech developing non-opioid therapeutics for the treatment of pain, announced terms for its IPO on Tuesday. The Malvern, PA-based company plans to raise $28 million by offering 2.5 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Recro Pharma would command a fully diluted market value of $61 million.
Recro Pharma, which was founded in 2008, plans to list on the NASDAQ under the symbol REPH. Aegis Capital is the sole bookrunner on the deal.
