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Mikko Lemola
Immune therapeutics developer Alopexx (ALPX) has set terms for its proposed $15M initial public offering.
The biotech group said it is looking to offer 2.5M shares, priced between $5 and $7 per share, which would raise around $15M if priced at the midpoint.
Underwriters would receive a 45-day option to buy up to 375K more shares to cover overallotments. Think Equity is serving as lead bookrunner. Alopexx hopes to list its shares on Nasdaq under the symbol ALPX.
Based in Cambridge, Mass., Alopexx is focused on developing therapeutics for the prevention and treatment of bacterial, fungal and parasitic infections that express the antigenic target PNAG.
The company is currently working on a vaccine for the prevention of such illnesses as pneumococcal pneumonia, MRSA, meningitis and certain sexually transmitted diseases. It is also developing an antibody treatment for hospital-associated infections.
For the six months ended June 30, the company reported a net loss of $1M with no revenue.
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Image and article originally from seekingalpha.com. Read the original article here.