Centrexion Therapeutics, which is developing non-opioid therapies for chronic pain, announced terms for its IPO on Monday.
The Boston, MA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. Insiders intend to purchase up to $30 million of the IPO (40% of the deal). At the midpoint of the proposed range, Centrexion Therapeutics would command a fully diluted market value of $354 million.
Centrexion Therapeutics was founded in 2013 and plans to list on the Nasdaq under the symbol CNTX. BofA Merrill Lynch, Leerink Partners and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of November 12, 2018.
