Odonate Therapeutics, which is developing oral chemotherapy drugs, announced terms for its IPO on Monday.
The San Diego, CA-based company plans to raise $150 million by offering 5.9 million shares at a price range of $24 to $27. Insiders intend to purchase $25 million worth of shares in the offering. At the midpoint of the proposed range, Odonate Therapeutics would command a fully diluted market value of $676 million.
Odonate Therapeutics was founded in 2013 and plans to list on the Nasdaq under the symbol ODT. Goldman Sachs, Jefferies and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of December 4, 2017.
