Enanta, Tetraphase set IPO ranges

Enanta Pharmaceuticals Inc. (Cambridge, Mass.) and Tetraphase Pharmaceuticals Inc. (Watertown, Mass.) both set IPO ranges on Wednesday. Enanta plans to sell 4 million shares at $14-$16. A $15 price would raise $60 million and value the company at $252.5 million. JPMorgan; Credit Suisse; Leerink; and JMP Securities are underwriters. Enanta proposed to raise up to $69 million in an IPO in November (see BioCentury Extra, Nov. 6, 2012).

AbbVie Inc. (NYSE:ABBV), the pharmaceutical business spinout of Abbott Laboratories (NYSE:ABT), has exclusive rights to ABT-450 from Enanta. The oral HCV NS3/4A protease inhibitor is in the Phase III TURQUOISE-II trial to treat genotype 1 HCV infection in patients with compensated cirrhosis. ...