Bay Area's Menlo Therapeutics Files for $98M IPO

Menlo Therapeutics, a late-stage biotech developing therapies for dermatological indications, filed on Thursday with the SEC to raise up to $98 million in an initial public offering. 

The Redwood City, CA-based company was founded in 2011 and booked $2 million in sales for the 12 months ended September 30, 2017. It plans to list on the Nasdaq under the symbol MNLO. Jefferies, Piper Jaffray and Guggenheim Securities are the joint bookrunners on the deal. No pricing terms were disclosed.