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Eidos Therapeutics plans $115M IPO

Eidos Therapeutics Inc. plans to sell its common shares to raise $115 million in an IPO.

The company has also granted the underwriters an option to buy additional shares in the offering.

San Francisco, Calif.-based Eidos is a clinical-stage biopharmaceutical company, which focuses on addressing the large and growing unmet need in diseases caused by transthyretin, or TTR, amyloidosis, or ATTR.

Eidos has applied to list its common stock on the Nasdaq Global Market under the symbol EIDX.

The company plans to invest 80% of the net proceeds from the offering to fund the clinical development of AG10 to treat ATTR cardiomyopathy and ATTR polyneuropathy, including on its ongoing studies.

In addition, the funds will be used for future clinical trials and additional research and development activities. The remaining proceeds will be used for working capital and general corporate purposes.

J.P. Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc. and Barclays Capital Inc. are acting as underwriters for the offering.