Aridis Pharmaceuticals, which is developing immunotherapies for antibiotic-resistant infections, announced terms for its IPO on Monday.
The San Jose, CA-based company plans to raise $28 million by offering 2.0 million shares at a price range of $13 to $15. Insiders intend to purchase $25 million worth of shares in the offering (89% of the deal). At the midpoint of the proposed range, Aridis Pharmaceuticals would command a fully diluted market value of $111 million.
Aridis Pharmaceuticals was founded in 2003 and booked $1 million in revenue for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol ARDS. Cantor Fitzgerald is the sole bookrunner on the deal. It is expected to price during the week of August 13, 2018.
