Sienna Biopharmaceuticals, a clinical-stage biotech developing topical therapies for dermatological conditions, announced terms for its IPO on Monday.
The Westlake Village, CA-based company plans to raise $65 million by offering 4.3 million shares at a price range of $14 to $16. Insiders intend to purchase $25 million worth of shares in the offering. At the midpoint of the proposed range, Sienna Biopharmaceuticals would command a fully diluted market value of $317 million.
Sienna Biopharmaceuticals was founded in 2010 and plans to list on the Nasdaq under the symbol SNNA. J.P. Morgan and Cowen & Company are the joint bookrunners on the deal, while BMO is a co-manager. It is expected to price during the week of July 24, 2017.
