The Zhitong Finance App learned that biotech company Lycia Therapeutics announced initial public offering (IPO) terms on Tuesday. The South San Francisco, California-based company plans to raise $250 million by issuing 14.7 million shares, with an issue price range of $16 to $18 per share. Based on the midpoint of the proposed offering price range, the fully diluted market value of Lycia Therapeutics will reach approximately US$950 million.

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