DUBLIN AC Immune SA is seeking up to $59 million in a Nasdaq IPO to help fund its broad portfolio of therapeutics and diagnostics in development for neurodegenerative and central nervous system (CNS) disorders.
The Lausanne, Switzerland-based firm is vying with Adienne Pharma & Biotech SA to become the first Swiss firm to complete an IPO this year. Earlier this week, Lugano-based Adienne unveiled plans to go public on the Swiss Stock Exchange in Zurich, without specifying any details of the offering.
AC Immune plans to offer 4,545,456 new shares, for which it has set an indicative price range of $11 to $13 per share. The midpoint of the offering would realize gross proceeds of just over $54.5 million.
An additional 681,818 shares are available to cover overallotments. Even before the company commences a book