Aratana Therapeutics, which is focused on the development and commercialization of prescription medication for pets, announced terms for its IPO on Thursday. The Kansas City, KS-based company plans to raise $51 million by offering 4.3 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Aratana Therapeutics would command a market value of $223 million. The company filed for an IPO with a proposed deal size of $58 million in March.
Aratana Therapeutics, which was founded in 2010 and has yet to generate any revenue, plans to list on the NASDAQ under the symbol PETX
. Stifel and Lazard Capital Markets are the joint bookrunners on the deal.