Menlo Therapeutics, a late-stage biotech developing therapies for dermatological indications, announced terms for its IPO on Friday.
The Redwood City, CA-based company plans to raise $85 million by offering 5.7 million shares at a price range of $14 to $16. Insiders intend to purchase $40 million worth of shares in the offering. At the midpoint of the proposed range, Menlo Therapeutics would command a fully diluted market value of $335 million.
Menlo Therapeutics was founded in 2011 and booked $2 million in sales for the 12 months ended September 30, 2017. It plans to list on the Nasdaq under the symbol MNLO. Jefferies, Piper Jaffray and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of January 22, 2018.
