Synthorx, a preclinical biotech developing immunotherapies for solid tumors and autoimmune disorders, announced terms for its IPO on Tuesday.
The La Jolla, CA-based company plans to raise $100 million by offering 9.1 million shares at a price range of $10 to $12. Insiders intend to purchase up to $75 million of the IPO (75% of the deal). At the midpoint of the proposed range, Synthorx would command a fully diluted market value of $324 million.
Synthorx was founded in 2014 and plans to list on the Nasdaq under the symbol THOR. Jefferies, Leerink Partners and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of December 3, 2018.
