Phathom Pharmaceuticals, a Phase 3 biotech developing an in-licensed treatment for common GI diseases, announced terms for its IPO on Tuesday.
The Buffalo Grove, IL-based company plans to raise $150 million by offering 7.9 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Phathom Pharmaceuticals would command a fully diluted market value of $650 million.
Phathom Pharmaceuticals was founded in 2018 and plans to list on the Nasdaq under the symbol PHAT. Goldman Sachs, Jefferies and Evercore ISI are the joint bookrunners on the deal. It is expected to price on Thursday, October 24, 2019.
