Protagonist Therapeutics, a GI Biotech, Sets Terms for $70 Million IPO

Published: Aug 01, 2016

Protagonist Therapeutics, which is developing peptide-based oral drugs for gastrointestinal diseases, announced terms for its IPO on Monday.

The Milpitas, CA-based company plans to raise $70 million by offering 5.8 million shares at a price range of $11 to $13. Insiders intend to purchase $40 million worth of shares in the offering. At the midpoint of the proposed range, Protagonist Therapeutics would command a fully diluted market value of $189 million.

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