Aileron Therapeutics, a biotech targeting a range of cancers using stapled peptides, announced terms for its IPO on Monday.
The Cambridge, MA-based company plans to raise $60 million by offering 3.75 million shares at a price range of $15 to $17. Insiders intend to purchase $25 million worth of shares in the offering. At the midpoint of the proposed range, Aileron Therapeutics would command a fully diluted market value of $250 million.
Aileron Therapeutics was founded in 2006 and plans to list on the Nasdaq under the symbol ALRN. BofA Merrill Lynch and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of June 26, 2017.
