The Novo-backed CAH therapy developer has set the range for an offering set to net it between $60m and $80m in proceeds.
US-based endocrine disorder drug developer Spruce Biosciences has set the terms for an initial public offering sized up to $80m that would enable pharmaceutical company Novo to exit.
The offering is set to involve the company issuing 5 million shares on the Nasdaq Global Market priced between $14 and $16 each. It would be valued at about $340m if it floats at the top of that range.
Spruce is developing a non-steroidal therapy called tildacerfont for a life-threatening genetic…
