Entasis Therapeutics Holdings, a clinical-stage biotech developing therapies for multi-drug resistant bacteria, announced terms for its IPO on Tuesday.
The Waltham, MA-based company plans to raise $75 million by offering 4.4 million shares at a price range of $16 to $18. Insiders intend to purchase $50 million worth of shares in the offering. At the midpoint of the proposed range, Entasis Therapeutics Holdings would command a fully diluted market value of $225 million.
Entasis Therapeutics Holdings was founded in 2015 and booked $5 million in sales for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol ETTX. Credit Suisse and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of September 24, 2018.
