Histogenics set the per-share price range on its forthcoming initial public offering at $13 to $15 per share.
That puts the mid-point for the nearly 4.3 million-share offering at just under $60 million.
At the high end of the range, Histogenics would gross $64.3 million from the flotation, below its goal when the IPO was announced last month. The regenerative medicine company plans to list its shares on the NASDAQ exchange under the symbol HSGX.
Histogenics’ lead product candidate is NeoCart, a regenerative medicine technology that can be used to repair damaged cartilage in joints. NeoCart is created by cultivating a patient’s own cartilage cells in the laboratory, which are then implanted into the damaged joint. The product is currently in Phase III testing.
Since its launch in 2000, the Waltham, Mass.-based company has netted $107 million in outside financing. Primary shareholders now include Wilmslow Estates, Sofinnova Venture Partners, Altima Restructure Fund, affiliates of Boston Millennia Partners and Split Rock Partners.
In July, Histogenics hired Adam Gridley as CEO. He succeeded Peter Greenleaf, who left to head Bethesda, Md.-based biotech Sucampo (NSDQ:SCMP). Gridley previously served as senior vice president of technical operations for Merz.