San Diego’s Regulus Therapeutics Readies for IPO This Week
San Diego’s Regulus Therapeutics is among eight companies on deck at the Nasdaq exchange for IPOs this week, according to a report today from Renaissance Capital, the Connecticut-based institutional research and investment management services firm.
Regulus, founded five years ago, has been developing microRNA treatments for serious diseases. The company has formed alliances with Big Pharma companies, including AstraZeneca, Sanofi, and GlaxoSmithKline, to help advance its development of microRNA drugs. Regulus plans to raise about $50 million by offering 4.5 million shares at a price between $10 and $12 per share.
At the midpoint of the proposed range, the market value of Regulus would be about $239 million.
The company plans to list on the Nasdaq market under the symbol RGLS.
Another company in the IPO queue this week is LifeLock, a Tempe, AZ-based company that acquired San Diego’s ID Analytics in March for $186 million. LifeLock, a Web-based company that provides identity theft protection services, plans to raise $165 million by offering 15.7 million shares at a price range of $9.50 to $11.50. At the midpoint of the proposed range, LifeLock would command a market value of $981 million. The company plans to trade its shares under the symbol LOCK.
LifeLock, founded in 2005, generated $228 million in revenue over the last 12 months.