Ace­lyrin sets out for a 2021-sized IPO for Cal­i­for­nia biotech’s PhI­II drug

Drug li­cen­sor and de­vel­op­er Ace­lyrin re­vealed more of its IPO plans Mon­day morn­ing, map­ping out what could be one of the biggest biotech IPOs in the past few years if it rais­es $370 mil­lion by pric­ing at the high end of its pro­posed range.

The Cal­i­for­nia biotech aims to sell 20.6 mil­lion shares of com­mon stock be­tween $16 and $18 apiece and trade on Nas­daq as “$SLRN,” Ace­lyrin re­vealed Mon­day morn­ing as it kicks off a road­show to court po­ten­tial in­vestors. The im­munol­o­gy biotech plans to of­fer un­der­writ­ers a 30-day op­tion to buy up to 3.09 mil­lion more shares.

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