Date: Aug 01, 2016 Source: NASDAQ News (
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Protagonist Therapeutics, which is developing peptide-based oral drugs for gastrointestinal diseases, announced terms for its IPO on Monday.
The Milpitas, CA-based company plans to raise $70 million by offering 5.8 million shares at a price range of $11 to $13. Insiders intend to purchase $40 million worth of shares in the offering. At the midpoint of the proposed range, Protagonist Therapeutics would command a fully diluted market value of $189 million.
Protagonist Therapeutics was founded in 2001 and plans to list on the Nasdaq under the symbol PTGX. Leerink Partners, Barclays and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of August 8, 2016.
The article Protagonist Therapeutics, a GI biotech, sets terms for $70 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.
Read more: http://www.nasdaq.com/article/protagonist-therapeutics-a-gi-biotech-sets-terms-for-70-million-ipo-cm657955#ixzz4MtElmvBV
