TRACON Pharmaceuticals, which is developing antibodies to treat cancer, AMD and fibrotic diseases, announced terms for its IPO on Tuesday. The San Diego, CA-based company plans to raise $47 million by offering 3.6 million shares at a price range of $12 to $14. At the midpoint of the proposed range, TRACON Pharmaceuticals would command a fully diluted market value of $164 million.
TRACON Pharmaceuticals, which was founded in 2004, plans to list on the NASDAQ under the symbol TCON. Wells Fargo Securities and Stifel are the joint bookrunners on the deal. It is expected to price during the week of January 26, 2015.
