Pharmaceutical company Regulus Therapeutics, which develops microRNA treatements and is backed by multiple pharmaceutical groups, has fleshed out the details of its forthcoming initial public offering, following the company filing a registration statement in August, trading on the Nasdaq under the code RGLS.
The firm has set its IPO terms to 4.5m shares being offered at a range of between $10 and $12 per share. The San Diego-based firm would have an initial market cap of about $239m should it price its shares at $11. Partner firm AstraZeneca has agreed to buy $25m of Regulus stock.
Lazard Capital Markets, Cowen & Co. and BMO Capital Markets serving as joint book-writers and will have an opportunity to buy an additional 681,818 shares, which will be worth $6.8m to $8.1m dependent on the price of the stock. Needham & Company and Wedbush PacGrow Life Sciences are co-managers.
The company’s principal stockholders are parent companies Alnylam Pharamaceuticals and Isis Pharmaceuticals, which own 44.1% and 45.2% of the company, respectively. Pharmaceutical firm Sanofi Aventis also holds a 9% stake.