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Bone disease biotech Clementia Pharmaceuticals sets terms for $100 million IPO

July 21, 2017

Clementia Pharmaceuticals, a clinical-stage biotech focused on treating bone diseases, announced terms for its IPO on Friday.

The Montreal, Canada-based company plans to raise $100 million by offering 7.2 million shares at a price range of $13 to $15. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Clementia Pharmaceuticals would command a fully diluted market value of $450 million.

Clementia Pharmaceuticals was founded in 2010 and plans to list on the Nasdaq under the symbol CMTA. Morgan Stanley and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of July 31, 2017.