UroGen Pharma, which is developing formulations of a chemotherapy to treat urological cancers, announced terms for its IPO on Monday. It also added two underwriters in the filing. Insiders are purchasing $20 million of shares on the offering.
The Ra'anana, Israel-based company plans to raise $45 million by offering 3.5 million shares at a price range of $12 to $14. Insiders intend to purchase $20 million worth of shares in the offering. At the midpoint of the proposed range, UroGen Pharma would command a fully diluted market value of $166 million.
UroGen Pharma was founded in 2004 and booked $18 million in revenue for the 12 months ended December 31, 2016. It plans to list on the Nasdaq under the symbol URGN. Jefferies and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of May 1, 2017.
