Calliditas Therapeutics, a Swedish biotech developing novel therapies for inflammatory kidney disease, announced terms for its IPO on Monday.
The Stockholm, Sweden-based company plans to raise $75 million by offering 3.8 million ADSs at $19.77, the as-converted last close of its shares on the Nasdaq Stockholm. At the midpoint of the proposed range, Calliditas Therapeutics would command a fully diluted market value of $467 million.
Calliditas Therapeutics was founded in 2004 and booked $20 million in licensing revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol CALT. Citi, Jefferies and Stifel are the joint bookrunners on the deal. It is expected to price during the week of June 1, 2020.
