Agile Therapeutics, a biotech developing prescription adhesive contraceptives, announced terms for its IPO on Friday. The Princeton, NJ-based company plans to raise $60 million by offering 4.6 million shares at a price range of $12 to $14. At the midpoint of the proposed range, it would command a fully diluted market value of $193 million.
Agile Therapeutics, which was founded in 1997, plans to list on the NASDAQ under the symbol AGRX. Its primary manufacturer, Corium International (CORI), went public in early April and has traded down 12% since then, after pricing below its proposed range. RBC Capital Markets and William Blair are the joint bookrunners on the deal. It is expected to price the week of May 19, 2014.
