Pain biotech Axsome Therapeutics sets terms for $51 million IPO

Axsome Therapeutics, which is developing an oral formulation of an existing therapy for pain and osteoarthritis, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $51 million by offering 4.3 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Axsome Therapeutics would command a fully diluted market value of $224 million.
Axsome Therapeutics, which was founded in 2012, plans to list on the Nasdaq under the symbol AXSM. Ladenburg Thalmann & Co. is the sole bookrunner on the deal. It is expected to price during the week of November 16, 2015.

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