SteadyMed, which is developing a combination therapy and pump for pulmonary disease and pain, announced terms for its IPO on Monday.
The San Ramon, CA-based company plans to raise $55 million by offering 4.3 million shares at a price range of $12 to $14. At the midpoint of the proposed range, SteadyMed would command a fully diluted market value of $179 million.
Another biotech targeting pulmonary pulmonary arterial hypertension (PAH), Bellerophon Therapeutics (BLPH), priced its IPO in February and trades about 10% below its offer price.
SteadyMed was founded in 2005 and plans to list on the NASDAQ under the symbol STDY. Wells Fargo Securities and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of March 16, 2015.
