Entasis Therapeutics Holdings, a Phase 2 biotech developing therapies for multi-drug resistant bacteria, raised $75 million by offering 5.0 million shares at $15, below the range of $16 to $18.
Entasis had planned to raise $75 million by offering 4.4 million shares at the $17 midpoint. At the IPO price, it commands a fully diluted market value of $208 million.
The company plans to list on the Nasdaq under the symbol ETTX. Credit Suisse and BMO Capital Markets acted as lead managers on the deal.
