Pharmaceutical company NuPathe sets IPO terms and timing

NuPathe, which is developing Zelrix, a migraine treatment that completed Phase 3 trials and expects to launch in 2012, announced terms for its IPO on Wednesday. The Conshohocken, PA-based company plans to raise $75 million by offering 5 million shares at a price range of $14-$16. At the mid-point of the proposed range, NuPathe will command a market value of $225 million. NuPathe was founded in 2005 and plans to list on the NASDAQ under the symbol PATH. Leerink Swann and Lazard Capital Markets are the lead underwriters on the deal, which is expected to price during the week of August 2.