Neos Therapeutics, a Dallas-area biotech company, has filed to go public.
The company plans to raise about $60 million by offering four million shares at a price range of $14 to $16 in an initial public offering. At the midpoint of the range, it would command a fully diluted market value of $220 million, according to research firm Renaissance Capital. Neos would trade on the Nasdaq under the symbol NEOS.
Last year, Neos raised nearly $40 million to develop its controlled-release technology for ADHD drugs, which attempt to deliver liquid and pill medications in a gradual, controlled manner over time, instead of all at once.
“With current ADHD drugs, it’s difficult for children to be administered multiple doses of the drug because, during the day, they are going to school,” Mark Tengler, Neos’ co-president and chief technology officer, told me in an interview last year. “It’s a Schedule 2 drug, so it will not be dispensed at the nurse’s office. It’s important that mom can onboard the medication early in the morning before a child’s school day begins.”