Biotech IPO "Thawed"! LB Pharmaceuticals (LBRX.US) IPO price set at $14-16 per share, aiming to raise $250 million.

According to the Zhitong Finance and Economics APP, the biotechnology company LB Pharmaceuticals (LBRX.US) dedicated to the development of drugs for neurological and mental disorders, announced the pricing terms of its IPO on Monday. The New York-based company plans to issue 16.7 million shares at a price range of $14 to $16, raising $250 million. Based on the midpoint of the proposed price range, LB Pharmaceuticals' market value will reach $301.5 million. The issuance of shares will account for 83% of the company's total issued basic shares after listing. The company plans to accelerate its roadshow and is expected to price this week.