Anacor Pharmaceuticals, which is developing novel small-molecule therapeutics derived from its boron chemistry platform, announced terms for its IPO on Wednesday. The Palo Alto, CA-based company plans to raise $80 million by offering 4.7 million shares at a price range of $16-$18. At the mid-point of the proposed range, Anacor Pharmaceuticals will command a market value of $318 million. Anacor Pharmaceuticals, which was founded in 2000 and booked $15 million in sales for the 12 months ended June 30, has five product candidates in clinical development. Its two lead candidates are topically administered dermatologic compounds for onychomycosis and psoriasis. The pharmaceutical company plans to list on the NASDAQ under the symbol ANAC. Citi and Deutsche Bank Securities are the lead underwriters on the deal, which is expected to price during the week of November 15.
