TFF Pharmaceuticals, an early-stage biotech developing dry-powder therapies for lung diseases, filed and announced terms on Tuesday to raise $22 million in an initial public offering.
The Austin, TX-based company plans to raise $22 million by offering 4.4 million shares at a price of $5. At that price, TFF Pharmaceuticals would command a fully diluted market value of $97 million.
TFF Pharmaceuticals was incorporated in 2018 and plans to list on the Nasdaq under the symbol TFFP. TFF Pharmaceuticals filed confidentially on October 11, 2018. National Securities is the sole bookrunner on the deal.
