Avalanche Biotechnologies, an early-stage biotech developing a gene therapy for wet AMD, raised the proposed deal size for its upcoming IPO on Wednesday. The Menlo Park, CA-based company now plans to raise up to $92 million by offering 5.4 million shares at a price range of $16 to $17. The company had previously filed to offer 5.4 million shares at a range of $13 to $15. At the high end of the revised range, Avalanche Biotechnologies would raise 21% greater proceeds than previously anticipated.
Avalanche Biotechnologies, which was founded in 2006, plans to list on the NASDAQ under the symbol AAVL. Jefferies, Cowen & Company and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of July 28, 2014.
