Aldeyra Therapeutics, a clinical-stage biotech developing treatments for rare skin and eye diseases, lowered the proposed number of shares it is offering on its upcoming IPO on Friday. The Burlington, MA-based company now plans to raise $13 million by offering 1.2 million shares at a price range of $10 to $12. The company had originally filed to offer 2.0 million shares at the same range, before increasing it to 2.3 million shares last month. At the midpoint of the range, Aldeyra Therapeutics will raise 47% less in proceeds than previously anticipated.
Aldeyra Therapeutics, which was founded in 2004, plans to list on the NASDAQ under the symbol ALDX. It initially filed confidentially on December 4, 2013. Aegis Capital is the sole bookrunner on the deal. It is expected to price during the week of April 28, 2014.
