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Gemphire Therapeutics Sets Terms for $45 million IPO

Tuesday, June 14, 2016   (0 Comments)
Posted by: Kate Oesterle
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Gemphire Therapeutics, which is developing therapies for the cardiovascular disease dyslipidemia, announced terms for its IPO on Monday. 

The Northville, MI-based company plans to raise $45 million by offering 3.8 million shares at a price range of $11 to $13. Insiders intend to purchase $10 million worth of shares in the offering (22%). At the midpoint of the proposed range, Gemphire Therapeutics would command a fully diluted market value of $113 million. 

The company is primarily owned by management and Pfizer.

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