Clarus Therapeutics (CLRS)

Clarus Therapeutics unveils IPO terms

Clarus Therapeutics, a biotech with an oral testosterone replacement therapy entering pivotal Phase 3 trials, announced terms for its IPO on Monday. The Northbrook, IL-based company plans to raise $60 million by offering 5 million shares at a price range of $11-$13. At the mid-point of the proposed range, Clarus Therapeutics will command a market value of $218 million. Clarus Therapeutics, which was founded in 2003 and has yet to generate product revenue, plans to list on the NASDAQ under the symbol CLRS. Piper Jaffray and Wells Fargo Securities are the lead underwriters on the deal, for which timing was not disclosed.