Adial Pharmaceuticals sets terms for $14M IPO
Tuesday, September 19, 2017
Adial Pharmaceuticals, a biotech developing therapeutic treatments for alcohol use disorder has announced terms for its IPO.
The Charlottesville, VA-based company plans to raise $14 million by offering 1.4 million shares at a price range of $9 to $11. At the midpoint of the proposed range, Adial Pharmaceuticals would command a fully diluted market value of $57 million.
Adial Pharmaceuticals was founded in 2007 and plans to list on the Nasdaq under the symbol ADIL. Aegis Capital Corp. is the sole bookrunner on the deal.
The article Adial Pharmaceuticals, a biotech focused on Alcohol Use Disorder, sets terms for $14 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.