The Allianz-backed company, which is developing treatments for inner ear disorders, has set the range for its initial public offering between $10 and $12.
Switzerland-based biopharmaceutical company Auris Medical set the range on Monday for its forthcoming initial public offering on Nasdaq at between $10 and $12 per share.
The company plans to issue 6.9 million shares, which would place the projected proceeds from the IPO at between $69m and $83.8m. If it were to float at the midpoint of the range Auris would have a fully diluted market value of $285m.
Shareholders in Auris include Idinvest Partners, the venture capital fund backed…