Biotech

resTORbio (NASDAQ:TORC) a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of aging-related diseases, today announced the pricing of its initial public offering of 5,666,667 shares of common stock at a public offering price of $15.00 per share. As quoted in the press release: The gross proceeds from the …

resTORbio (NASDAQ:TORC) a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of aging-related diseases, today announced the pricing of its initial public offering of 5,666,667 shares of common stock at a public offering price of $15.00 per share.
As quoted in the press release:

The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $85 million, excluding any exercise of the underwriters’ option to purchase additional shares.  The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “TORC” on Friday, January 26, 2018. The offering is expected to close on January 30, 2018, subject to customary closing conditions.

Click here to read the full press release.

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