Ra Pharmaceuticals, which is developing small molecule therapies targeting rare blood disorders, announced terms for its IPO on Monday.
The Cambridge, MA-based company plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Ra Pharmaceuticals would command a fully diluted market value of $281 million.
Ra Pharmaceuticals was founded in 2008 and booked $7 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol RARX. Credit Suisse, Jefferies and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of October 24, 2016.
