SCYNEXIS, a biotech developing treatments for life-threatening fungal infections, announced terms for its IPO on Wednesday. The Durham, NC-based company plans to raise $55 million by offering 4.2 million shares at a price range of $12 to $14. At the midpoint of the proposed range, SCYNEXIS would command a fully diluted market value of $210 million.
SCYNEXIS, which was founded in 1999 and booked $17 million in research services and licensing revenue for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol SCYX. RBC Capital Markets and Canaccord Genuity are the joint bookrunners on the deal.
