Option Therapeutics, a Phase 2 liver disease biotech spun out of BioVie, lowered the proposed deal size for its upcoming IPO on Monday.
The Carson City, NV-based company now plans to raise $20 million by offering 1.8 million shares at a price range of $10 to $12. The company had previously filed to offer 2.3 million shares at the same range. At the midpoint, Option Therapeutics will raise -20% less in proceeds than previously anticipated.
The company focuses on the development of therapeutic candidates for the treatment of serious and life-threatening liver diseases. The lead product, BIV201, is being evaluated for the treatment of complications associated with advanced liver cirrhosis and is patent-pending in U.S., China, Japan, Chile, and India. Option Therapeutics has yet to generate revenue.
Option Therapeutics was founded in 2025. It plans to list on the NYSE American under the symbol OPTN. ThinkEquity is the sole bookrunner on the deal.
