Passage Bio, a preclinical biotech developing gene therapies for rare CNS disorders, announced terms for its IPO on Tuesday.
The Philadelphia, PA-based company plans to raise $126 million by offering 7.4 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Passage Bio would command a fully diluted market value of $713 million.
Passage Bio was founded in 2017 and plans to list on the Nasdaq under the symbol PASG. J.P. Morgan, Goldman Sachs and Cowen are the joint bookrunners on the deal. It is expected to price during the week of February 24, 2020.
