Iterum Therapeutics, which is developing oral and IV antibiotics for drug-resistant bacterial infections, announced terms for its IPO on Wednesday.
The Dublin, Ireland-based company plans to raise $80 million by offering 5.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Iterum Therapeutics would command a fully diluted market value of $200 million and an enterprise value of $69 million.
Iterum Therapeutics was founded in 2015 and booked $1 million in revenue for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol ITRM. Leerink Partners and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of May 21, 2018.
