Brain disease biotech Neumora sets terms for $250 million IPO
Neumora Therapeutics, a Phase III US biotech developing therapies for brain diseases, announced terms for its initial public offering (IPO) on Monday.
The Watertown, Massachusetts-based company plans to raise $250 million by offering 14.7 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Neumora Therapeutics would command a fully diluted market value of $2.8 billion.
The company's pipeline consists of seven clinical and pre-clinical neuroscience programs that target novel mechanisms of action for a broad range of underserved neuropsychiatric disorders and neurodegenerative diseases.
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