Satsuma Pharmaceuticals, a clinical-stage biotech developing a therapy for migraines, announced terms for its IPO on Tuesday.
The South San Francisco, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. Insiders intend to purchase $25 million worth of shares in the offering. At the midpoint of the proposed range, Satsuma Pharmaceuticals would command a fully diluted market value of $262 million.
Satsuma Pharmaceuticals was founded in 2016 and plans to list on the Nasdaq under the symbol STSA. Credit Suisse, SVB Leerink and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of September 9, 2019.
