Galera Therapeutics, a clinical stage biotech developing toxicity-reducing products for radiotherapy patients, announced terms for its IPO on Monday.
The Malvern, PA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. Insiders intend to purchase $40 million worth of shares in the offering. At the midpoint of the proposed range, Galera Therapeutics would command a fully diluted market value of $400 million.
Galera Therapeutics was founded in 2012 and plans to list on the Nasdaq under the symbol GRTX. BofA Securities, Citi, Credit Suisse, and BTIG are the joint bookrunners on the deal. It is expected to price during the week of November 4, 2019.
