Inotek Pharmaceuticals, a biotech developing a small molecule eye drop therapy to treat glaucoma, announced terms for its IPO on Thursday. The Lexington, MA-based company plans to raise $65 million by offering 4.6 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Inotek Pharmaceuticals would command a fully diluted market value of $200 million.
Inotek Pharmaceuticals, which was founded in 1999, plans to list on the NASDAQ under the symbol ITEK. Cowen & Company, Piper Jaffray, Canaccord Genuity and Nomura Securities are the joint bookrunners on the deal. It is expected to price during the week of February 2, 2015.
