Allena Pharmaceuticals (ALNA) plans to raise $80 million in an IPO on Thursday, November 2nd, IPO Scoop reports. The company plans to issue 5,300,000 shares at $14.00-$16.00 per share.

The company has a market cap of $309.3 million.

Credit Suisse, Jefferies and Cowen served as the underwriters for the IPO and Wedbush PacGrow was co-manager.

Allena Pharmaceuticals provided the following description of their company for its IPO: “We are a late-stage clinical biopharmaceutical company dedicated to developing and commercializing first-in-class, oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders. We are focused on metabolic disorders that result in excess accumulation of certain metabolites, such as oxalate and urate, that can cause kidney stones, damage the kidney, and potentially lead to chronic kidney disease, or CKD, and end-stage renal disease. Our proprietary technological approach enables us to design and develop stable, non-absorbable oral enzyme therapies that remain in the gastrointestinal, or GI, tract, where the enzyme can degrade these metabolites, allowing for removal from the body through the bowel. “.

Allena Pharmaceuticals was founded in 2011 and has 29 employees. The company is located at One Newton Executive Park, Suite 202, Newton, MA 02459 US and can be reached via phone at (617) 467-4577 or on the web at http://www.allenapharma.com.

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