Aptinyx, which is developing therapeutics for neurological disorders, announced terms for its IPO on Monday.
The Evanston, IL-based company plans to raise $80 million by offering 5.3 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, Aptinyx would command a fully diluted market value of $509 million.
Aptinyx was founded in 2015 and booked $6 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol APTX. J.P. Morgan, Cowen & Company, Leerink Partners and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of June 18, 2018.
