Solid Biosciences, which is developing a gene therapy to treat Duchenne muscular dystrophy (DMD), announced terms for its IPO on Tuesday.
The Cambridge, MA-based company plans to raise $100 million by offering 5.9 million shares at a price range of $16 to $18. Insiders intend to purchase $40 million worth of shares in the offering. At the midpoint of the proposed range, Solid Biosciences would command a fully diluted market value of $551 million.
Solid Biosciences was founded in 2013 and plans to list on the Nasdaq under the symbol SLDB. J.P. Morgan, Goldman Sachs and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of January 22, 2018.
