AzurRX Biopharma, which is developing non-systemic biologics for gastrointestinal disorders, announced terms for its IPO on Friday.
The Brooklyn, NY-based company plans to raise $15 million by offering 2.1 million shares at a price range of $6 to $8. At the midpoint of the proposed range, AzurRX Biopharma would command a fully diluted market value of $77 million.
AzurRX Biopharma was founded in 2007 and plans to list on the Nasdaq under the symbol AZRX. WallachBeth Capital and Network 1 Financial Securities are the joint bookrunners on the deal. No pricing date has been determined.
