Aug. 4 at 12:46 AM
Apnimed completed its initial public offering, raising approximately
$220.8 million in gross proceeds by selling 13.8 million shares at
$16.00 per share, including the full exercise of the underwriters’ over-allotment option. The shares began trading on the Nasdaq Global Select Market on July 31 under the ticker APMD, marking one of the latest biotech IPOs as investor interest in the sector gradually improves.
The Cambridge, Massachusetts-based clinical-stage biopharmaceutical company is focused on developing AD109, an oral treatment for obstructive sleep apnea (OSA) across mild, moderate, and severe cases. The therapy has successfully completed two Phase 3 clinical trials, positioning the company for a potential commercial launch if approved.
Apnimed said its New Drug Application (NDA) has been accepted by the FDA and assigned a PDUFA target action date of February 28, 2027.
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