Kezar Life Sciences, which is developing small molecule therapeutics to treat autoimmune diseases and cancer, announced terms for its IPO on Friday.
The San Fancisco, CA-based company plans to raise $70 million by offering 4.7 million shares at a price range of $14 to $16. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Kezar Life Sciences would command a fully diluted market value of $295 million and an enterprise value of $187 million.
Kezar Life Sciences was founded in 2015 and plans to list on the Nasdaq under the symbol KZR. Jefferies, Cowen & Company, Wells Fargo Securities and William Blair are the joint bookrunners on the deal. It is expected to price during the week of June 18, 2018.
