Zynerba Pharmaceuticals, a preclinical biotech developing cannabinoid-based therapies for osteoarthritis and epilepsy, announced terms for its IPO on Thursday.
The Devon, PA-based company plans to raise $42 million by offering 3.0 million shares at a price range of $13 to $15. At the midpoint of the proposed range, it would command a fully diluted market value of $128 million.
Zynerba Pharmaceuticals, which was founded in 2007, plans to list on the Nasdaq under the symbol ZYNE. Jefferies and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of August 3, 2015.
