Skin care biotech Dermira increases deal size 46% to $117 million

Dermira, a biotech targeting skin conditions such as psoriasis, excessive sweating and acne, raised the proposed deal size for its upcoming IPO on Thursday. The Redwood City, CA-based company now plans to raise $117 million by offering 7.8 million shares (up from 5.4 million) at a price range of $14 to $16. Expected gross proceeds from the IPO increased by 46%.

Dermira, which was founded in 2010, plans to list on the NASDAQ under the symbol DERM. Dermira initially filed confidentially on 6/26/2014. Citi and Leerink Partners are the joint bookrunners on the deal.