Galmed Pharmaceuticals, a clinical-stage biotech developing therapies for liver diseases and gallstones, announced terms for its IPO on Friday. The Tel Aviv, Israel-based company plans to raise $31 million by offering 2.4 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Galmed Pharmaceuticals would command a fully diluted market value of $148 million.
Galmed Pharmaceuticals, which was founded in 2000, plans to list on the NASDAQ under the symbol GLMD. Galmed Pharmaceuticals initially filed confidentially on December 31, 2013. Maxim Group is the sole bookrunner on the deal.
