Clarus, Iaso Pharma set IPO ranges
Clarus Therapeutics Inc. (Northbrook, Ill.) and Iaso Pharma Inc. (San Diego, Calif.) each amended an IPO to set price ranges. Clarus hopes to sell 5 million shares at $11-$13. A $12 price would raise $60 million and value the company at $217.7 million. The offering is underwritten by Piper Jaffray; Wells Fargo; Lazard; and Needham. Clarus plans to begin Phase III testing of its lead product, OriTex oral testosterone replacement therapy, after completing the offering.
Iaso hopes to sell 4 million shares at $4.50-$5.50. A $5 price would raise $20 million and value the company at $33.5 million. The offering is underwritten by Ladenburg Thalmann and Maxim Group, which was an original underwriter on the offering but was not named in a December SEC filing. ...