Alder BioPharmaceuticals, a biotech developing antibodies for migraines and arthritis, announced terms for its IPO on Friday. The Bothell, WA-based company plans to raise $100 million by offering 7.2 million shares at a price range of $13 to $15. At the midpoint of the proposed range, it would command a fully diluted market value of $432 million.
Alder BioPharmaceuticals, which was founded in 2002 and booked $19 million in collaboration and licensing revenue for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol ALDR. Alder initially filed confidentially on February 10, 2014. Credit Suisse and Leerink Partners are the joint bookrunners on the deal.
