ARTICLE | Financial News

Civitas, Eyegate set IPO terms

September 16, 2014 1:50 AM UTC

Civitas Therapeutics Inc. (Chelsea, Mass.) and EyeGate Pharmaceuticals Inc. (Waltham, Mass.) each set terms for their proposed IPOs on NASDAQ.

Civitas plans to sell 5 million shares at $14-$16. At $15, Civitas would raise $75 million and be valued at $363.2 million. The company filed to raise up to $86.3 million last month. Underwriters are J.P. Morgan; BofA Merrill Lynch; Cowen; and Oppenheimer. Civitas plans to start Phase III testing of CVT-301 to treat motor fluctuations associated with Parkinson's disease (PD) early next year, with a potential NDA submission by the end of 2016. CVT-301 is an inhaled formulation of levodopa delivered via Civitas' Arcus inhalation technology. ...