PhaseRx, a preclinical biotech developing treatments for inherited enzyme deficiencies in the liver, announced terms for its IPO on Monday.
The Seattle, WA-based company plans to raise $22 million by offering 3.7 million shares at a price range of $5 to $7. Insiders intend to purchase $9 million worth of shares in the offering. At the midpoint of the proposed range, PhaseRx would command a fully diluted market value of $72 million.
PhaseRx was founded in 2006. It plans to list on the Nasdaq under the symbol PZRX. Laidlaw & Company (UK) is the sole bookrunner on the deal. Pricing information was not disclosed.
