Alzheon, a late-stage biotech developing small molecule therapies for Alzheimer's disease, announced terms for its IPO on Monday.
The Framingham, MA-based company plans to raise $70 million by offering 5.0 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Alzheon would command a fully diluted market value of $228 million.
Alzheon was founded in 2013 and plans to list on the Nasdaq under the symbol ALZH. Citi and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of April 9, 2018.
