Marinus Pharmaceuticals, a clinical-stage biotech developing an add-on therapy for adults with epilepsy, announced terms for its IPO on Friday. The New Haven, CT-based company plans to raise $52 million by offering 4.0 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Marinus would command a fully diluted market value of $172 million.
Another biotech focused on epilepsy, Sage Therapeutics (SAGE), priced at the high end of its upwardly-revised range begins trading today.
Marinus Pharmaceuticals, which was founded in 2003, plans to list on the NASDAQ under the symbol MRNS. Stifel and JMP Securities are the joint bookrunners on the deal. It is expected to price during the week of July 28, 2014.
