Clinical-stage biotech Cancer Prevention sets terms for $25 million IPO

Cancer Prevention Pharmaceuticals, which is developing treatments for colorectal cancer risk factors, announced terms for its IPO on Wednesday.

The Tucson, AZ-based company plans to raise $25 million by offering 1.9 million shares at a price range of $12 to $14. Insiders intend to purchase $5 million worth of shares in the offering. At the midpoint of the proposed range, Cancer Prevention Pharmaceuticals would command a fully diluted market value of $110 million.

Cancer Prevention Pharmaceuticals was founded in 2009 and booked $4 million in sales for the 12 months ended December 31, 2015. It plans to list on the NYSE under the symbol CPP. Aegis Capital Corp. and Maxim Group LLC are the joint bookrunners on the deal. Pricing details were not disclosed.