Biotech IPOs For The Week Ahead
Six biotech companies launched their IPOs in the week ending July 22. Included in the listing was Tilray Inc. (TLRY), the first cannabis company to go public on a U.S. major stock exchange.
Tilray Inc. (TLRY), which made its debut on the Nasdaq Global Select Market on July 19, has so far gained as much as 87% from its listing price of $17.
Let’s take a look at the biotech companies that are going public in the week ahead.
1. Aquestive Therapeutics Inc.
Aquestive Therapeutics is a specialty pharmaceutical company with a late-stage proprietary product pipeline focused on the treatment of diseases of the Central Nervous System, or CNS.
The Company is scheduled to list its IPO on the Nasdaq Global Market, under the symbol “AQST”, on July 25.
Aquestive has offered to sell 4 million shares of its common stock in the offering, and the underwriters have an option to purchase up to 600,000 additional shares of common stock.
The initial public offering price is expected to be between $14.00 and $16.00 per share.
The Company’s most advanced proprietary product candidates include:
— Libervant (AQST-203), a buccally, or inside of the cheek, administered soluble film formulation of diazepam for the treatment of recurrent epileptic seizures, which is a phase III compound. A New Drug Application for Libervant is expected to be submitted this year.
— Sympazan (AQST-120), an oral soluble film formulation of clobazam for the treatment of seizures associated with Lennox-Gastaut Syndrome, is under FDA review, with a decision expected on August 31, 2018.
— AQST-117, an oral soluble film formulation of riluzole for the treatment of Amyotrophic Lateral Sclerosis, or ALS, which is under phase III testing.
— AQST-108, a sublingual film formulation of epinephrine for the treatment of anaphylaxis, under phase I trials.
— AQST-305, a buccal film formulation of octreotide for the treatment of acromegaly and neuroendocrine tumors, under pre-clinical testing.
In addition to the above-mentioned product candidates, the Company also has a portfolio of the following commercialized and clinical-stage partnered products:
— Suboxone for the treatment of opioid dependence. Suboxone was launched in 2010 in partnership with Reckitt Benckiser Pharmaceuticals, Inc., which was later rebranded as Indivior plc (INVVY.OB) (INDV.L).
— Zuplenz for the prevention of chemotherapy-induced, radiotherapy-induced, and postoperative nausea and vomiting, which was launched in the United States in 2015 by Midatech. Aquestive is the sole and exclusive manufacturer of Zuplenz for Midatech.
— APL-130277, proposed as an intermittent therapy to overcome episodic off periods in Parkinson’s disease. The NDA for APL-130277, submitted by the Company’s partner Sunovion Pharmaceuticals Inc., is under FDA review, with a decision expected on January 29, 2019.
— AQST-119, a vasodilator for the treatment of erectile dysfunction, is under FDA review, with a decision anticipated on November 18, 2018. The Company is seeking a commercialization partner for AQST-119.
2. Liquidia Technologies Inc.
Liquidia Technologies is a late-stage clinical biopharmaceutical company, currently focused on the development of two product candidates for the treatment of pulmonary arterial hypertension and local post-operative pain.
The Company is scheduled to list its IPO on the Nasdaq Capital Market, under the symbol “LQDA” on July 26.
Liquidia has offered to sell 4.54 million shares of its common stock in the offering, and the underwriters have an option for a period of 30 days to purchase an additional 681,818 shares of common stock.
The initial public offering price is expected to be between $10.00 and $12.00 per share.
The lead drug candidate is LIQ861 for the treatment of pulmonary arterial hypertension, or PAH.
LIQ861 is under a phase III trial, dubbed INSPIRE. This trial, initiated in January of this year, is designed to enroll at least 100 patients with PAH across multiple U.S. sites. Safety data from INSPIRE are expected in the first half of 2019.
LIQ865 for the treatment of local post-operative pain, which completed a Phase 1a clinical trial in Denmark in March 2017, and a Phase 1b clinical trial in the United States in April 2018. A Phase 2-enabling toxicology studies are expected to be initiated in the second half of 2018.
by RTTNews Staff Writer
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