ProNAi Therapeutics, which is developing cancer therapies based on DNA interference, announced terms for its IPO on Monday.
The Vancouver, Canada-based company plans to raise $101 million by offering 6.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, ProNAi Therapeutics would command a fully diluted market value of $451 million.
ProNAi Therapeutics, which was founded in 2003, plans to list on the NASDAQ under the symbol DNAI. Jefferies and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of July 13, 2015.
