Akouos, a preclinical biotech developing gene therapies for inner ear disorders, announced terms for its IPO on Monday.
The Boston, MA-based company plans to raise $125 million by offering 8.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Akouos would command a fully diluted market value of $450 million.
Akouos' lead candidate, AK-OTOF, is a gene therapy for the treatment of hearing loss due to mutations in the otoferlin gene. The company estimates that AK-OTOF has a potential addressable population of roughly 7,000 individuals, and it reported promising preclinical data for the candidate.
Akouos was founded in 2016 and plans to list on the Nasdaq under the symbol AKUS. BofA Securities, Cowen, Piper Sandler, and BTIG are the joint bookrunners on the deal. It is expected to price during the week of June 22, 2020.
