Accelerated Pharma, which is developing a chemotherapy optimized by genomic screening, lowered the proposed deal size for its upcoming IPO on Monday.
The Westport, CT-based company now plans to raise $10 million by offering 1.67 million shares at a price range of $5 to $7. The company had previously filed to offer 1.9 million shares at a range of $8 to $10. At the midpoint of the revised range, Accelerated Pharma will raise -41% less in proceeds than previously anticipated.
Accelerated Pharma was founded in 2014 and plans to list on the Nasdaq under the symbol ACCP. Rodman & Renshaw and Maxim Group LLC are the joint bookrunners on the deal. It is expected to price later this week.
