Kala Pharmaceuticals, a late-stage biotech developing nanoparticle therapies for ocular inflammation, announced terms for its IPO on Monday.
The Waltham, MA-based company plans to raise $90 million by offering 6 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Kala Pharmaceuticals would command a fully diluted market value of $389 million. Insiders have indicated an interest in purchasing up to $40 million (44% of the deal) in shares on the IPO.
Kala Pharmaceuticals was founded in 2009 and plans to list on the Nasdaq under the symbol KALA. J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of July 17, 2017.
