Sienna Biopharmaceuticals Sets Terms For IPO, To Raise Up To $69.3 Million

Sienna Biopharmaceuticals disclosed Monday terms for its initial public offering, as the dematology and aesthetics-focused biopharmaceutical company said it plans to sell 4.33 million shares to raise up to $69.3 million. The company expects the IPO to price between $14 and $16 a share. If the underwriters exercise the options granted to buy an additional 650,000 shares to cover overallotments, the company could raise up to $79.7 million. The stock is expected to list on the Nasdaq and trade under the symbol "SNNA." The lead underwriters are J.P. Morgan, Cowen and BMO Capital Markets. The company would be coming to market at a time of market strength, as the iShares Nasdaq Biotechnology ETF has climbed 8.9% over the past three months and the S&P 500 has gained 4.7%.