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Hypertension biotech Liquidia Technologies sets terms for $50 million IPO

Liquidia Technologies, which is developing engineered formulations of therapies for PAH and pain, announced terms for its IPO on Friday.

The Morrisville, NC-based company plans to raise $50 million by offering 4.5 million shares at a price range of $10 to $12. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Liquidia Technologies would command a fully diluted market value of $175 million.

Liquidia Technologies was founded in 2004 and booked $7 million in revenue for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol LQDA. Jefferies and Cowen are the joint bookrunners on the deal. It is expected to price during the week of July 23, 2018.