Oncobiologics, which is developing biosimilars of blockbuster drugs Humira and Avastin, announced terms for its IPO on Wednesday.
The Cranbury, NJ-based company plans to raise $60 million by offering 5 million shares at a price range of $11 to $13. Insiders intend to purchase $20 million worth of shares in the offering. At the midpoint of the proposed range, Oncobiologics would command a fully diluted market value of $274 million.
Oncobiologics was founded in 2010. It plans to list on the Nasdaq under the symbol ONS. Jefferies and Barclays are the joint bookrunners on the deal. It is expected to price during the week of May 2, 2016.
