Ritter Pharmaceuticals, which is developing an oral therapy that reduces the symptoms of lactose intolerance, announced terms for its IPO on Friday. The Los Angeles, CA-based company plans to raise $20 million by offering 1.82 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Ritter would command a fully diluted market value of $69 million.
Ritter Pharmaceuticals was founded in 2004 and plans to list on the NASDAQ under the symbol RTTR. Ritter Pharmaceuticals initially filed confidentially on January 29, 2015. Aegis Capital and Chardan Capital Markets are the joint bookrunners on the deal.
