IPO News Archive
Biotech AcelRx sets IPO terms
AcelRx, a biotech developing a Phase 3 treatment for acute post-operative pain, announced terms for its IPO on Thursday. The Redwood City, CA-based company plans to raise $75 million by offering 5.8 million shares at a price range of $12-$14. At the mid-point of the proposed range, AcelRx will command a market value of $210 million. AcelRx, which was founded in 2005 and has yet to generate product revenue, plans to list on the NASDAQ under the symbol ACRX. Piper Jaffray is the lead underwriter on the deal, which is expected to price during the week of January 31.