ObsEva, a clinical-stage biotech developing therapies for women's reproductive health, announced terms for its IPO on Tuesday.
The Geneva, Switzerland-based company plans to raise $97 million by offering 6.5 million shares at a price range of $14 to $16. Insiders intend to purchase $45 million worth of shares in the offering. At the midpoint of the proposed range, ObsEva would command a fully diluted market value of $444 million.
ObsEva was founded in 2012 and has no material sales to date. It plans to list on the Nasdaq under the symbol OBSV. Credit Suisse, Jefferies and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of January 23, 2017.
