Agile Therapeutics, a biotech developing the first low-dose contraceptive patch, lowered the proposed deal size for its upcoming IPO on Thursday. The Princeton, NJ-based company now plans to raise $55 million by offering 9.2 million shares at a price of $6. The company had previously filed to raise $60 million by offering 4.6 million shares at a range of $12 to $14. Additionally, insiders now intend to buy $25 million on the IPO, up from $15 million. Agile Therapeutics, which was founded in 1997, plans to list on the NASDAQ under the symbol AGRX. RBC Capital Markets and William Blair are the joint bookrunners on the deal.
