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Ophthalmology biotech Tarsus Pharmaceuticals sets terms for $80 million IPO

Ophthalmology biotech Tarsus Pharmaceuticals sets terms for $80 million IPO

Tarsus Pharmaceuticals, a Phase 3 biotech developing therapies for ophthalmic conditions, announced terms for its IPO on Friday.

The Irvine, CA-based company plans to raise $80 million by offering 5 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Tarsus Pharmaceuticals would command a fully diluted market value of $324 million.

The company’s lead product candidate, TP-03, is a novel therapeutic being developed for the treatment of blepharitis caused by the infestation of Demodex mites, which is referred to as Demodex blepharitis. To date, the company has completed four Phase 2 trials for TP-03 in Demodex blepharitis, all of which met their primary, secondary and/or exploratory endpoints. The company commenced a Phase 2b/3 trial in September 2020, and intends to commence a Phase 3 trial in 2021

Tarsus Pharmaceuticals was founded in 2016 and plans to list on the Nasdaq under the symbol TARS. BofA Securities, Jefferies, Raymond James, LifeSci Capital and Ladenburg Thalmann are the joint bookrunners on the deal.

The article Ophthalmology biotech Tarsus Pharmaceuticals sets terms for $80 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Canadian nano-cap biotech InMed Pharmaceuticals sets terms for $10 million Nasdaq uplisting

Canadian nano-cap biotech InMed Pharmaceuticals sets terms for $10 million Nasdaq uplisting

InMed Pharmaceuticals, a clinical stage biotech developing cannabinoid-based products, announced terms for its IPO on Thursday.

The Vancouver, Canada-based company plans to raise $10 million by offering 2.4 million shares at $4.13, above the last close of its shares on the OTCQX (IMLFF) and the Toronto Stock Exchange (IN). The company is also offering warrants to purchase 2.4 million shares of common stock at an assumed exercise price of $4.13. At the proposed price, InMed Pharmaceuticals would command a market value of $32 million. Because the company is offering warrants and its market cap is below $50 million, InMed is no longer eligible for tracking and will be excluded from Renaissance Capital’s stats.

InMed Pharmaceuticals is developing an API using a synthetic cannabinoid named cannabinol, or CBN, and plans to develop its two products INM-755 for rare skin disease Epidermolysis Bullosa (EB) and INM-088 for glaucoma. INM-755 is currently in a Phase 1 trial in The Netherlands.

InMed Pharmaceuticals was founded in 2014 and plans to list on the Nasdaq under the symbol INM. Roth Capital is the sole bookrunner on the deal.

The article Canadian nano-cap biotech InMed Pharmaceuticals sets terms for $10 million Nasdaq uplisting originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Analysis: Let Slam rules be — 5 sets; no ‘breaker in Paris

Analysis: Let Slam rules be — 5 sets; no ‘breaker in Paris

Stadium workers watch Argentina's Diego Schwartzman celebrate his win as the duration of the match, five hours and eight minutes, is shown in the quarterfinal match of the French Open tennis tournament against Austria's Dominic Thiem at the Roland Garros stadium in Paris, France, Tuesday, Oct. 6, 2020.

Stadium workers watch Argentina’s Diego Schwartzman celebrate his win as the duration of the match, five hours and eight minutes, is shown in the quarterfinal match of the French Open tennis tournament against Austria’s Dominic Thiem at the Roland Garros stadium in Paris, France, Tuesday, Oct. 6, 2020.

AP

As it is, Rafael Nadal would be a big favorite to win his French Open semifinal, of course. He is, after all, a 12-time champion and a combined 24-0 in that round and finals at Roland Garros; he’s 9-1 against Friday’s opponent, Diego Schwartzman.

There’s also this working in Nadal’s favor: He is coming off a three-set quarterfinal; Schwartzman toiled for five sets across 5 hours, 8 minutes in his previous match.

That’s an advantage Nadal earned, in part, by being more efficient. He deserves any edge it gives him — just like Schwartzman had an edge in his quarterfinal against Dominic Thiem, who had gone five sets in the fourth round. That’s merely one reason that any discussion of switching from best-of-five-set matches to best-of-three for men at Grand Slam tournaments is misguided.

Others: The current format allows for more plot twists, more comebacks, more suspense, more drama; it makes major championships distinct from lesser events; it rewards superior stamina and focus; it fosters fascinating and — sometimes, though not always — memorable matches.

When Stefanos Tsitsipas, the 22-year-old from Greece who faces No. 1 Novak Djokovic in the semifinals Friday, talked about skipping school to watch Roland Garros on TV as a kid, the first match that sprang to mind was a 6-hour, 33-minute win for Fabrice Santoro over Arnaud Clement in 2004 that ended 16-14 in the fifth.

“I watched some epic thrillers, five-set matches,” Tsitsipas said.

Each of the past four Slam men’s finals went

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Let Slam rules be — 5 sets; no ‘breaker in Paris

Let Slam rules be — 5 sets; no ‘breaker in Paris

As it is, Rafael Nadal would be a big favorite to win his French Open semifinal, of course. He is, after all, a 12-time champion and a combined 24-0 in that round and finals at Roland Garros; he’s 9-1 against Friday’s opponent, Diego Schwartzman.



Stadium workers watch Argentina's Diego Schwartzman celebrate his win as the duration of the match, five hours and eight minutes, is shown in the quarterfinal match of the French Open tennis tournament against Austria's Dominic Thiem at the Roland Garros stadium in Paris, France, Tuesday, Oct. 6, 2020. (AP Photo/Michel Euler)


© Provided by Associated Press
Stadium workers watch Argentina’s Diego Schwartzman celebrate his win as the duration of the match, five hours and eight minutes, is shown in the quarterfinal match of the French Open tennis tournament against Austria’s Dominic Thiem at the Roland Garros stadium in Paris, France, Tuesday, Oct. 6, 2020. (AP Photo/Michel Euler)

There’s also this working in Nadal’s favor: He is coming off a three-set quarterfinal; Schwartzman toiled for five sets across 5 hours, 8 minutes in his previous match.

That’s an advantage Nadal earned, in part, by being more efficient. He deserves any edge it gives him — just like Schwartzman had an edge in his quarterfinal against Dominic Thiem, who had gone five sets in the fourth round. That’s merely one reason that any discussion of switching from best-of-five-set matches to best-of-three for men at Grand Slam tournaments is misguided.



Argentina's Diego Schwartzman catches his breath after a rally in the fourth set of the quarterfinal match of the French Open tennis tournament against Austria's Dominic Thiem at the Roland Garros stadium in Paris, France, Tuesday, Oct. 6, 2020. (AP Photo/Alessandra Tarantino)


© Provided by Associated Press
Argentina’s Diego Schwartzman catches his breath after a rally in the fourth set of the quarterfinal match of the French Open tennis tournament against Austria’s Dominic Thiem at the Roland Garros stadium in Paris, France, Tuesday, Oct. 6, 2020. (AP Photo/Alessandra Tarantino)

Others: The current format allows for more plot twists, more comebacks, more suspense, more drama; it makes major championships distinct from lesser events; it rewards superior stamina and focus; it fosters fascinating and — sometimes, though not always — memorable matches.

When Stefanos Tsitsipas, the 22-year-old from Greece who faces No. 1 Novak Djokovic in the semifinals Friday, talked about skipping school to

Read the rest
Analysis: Let Slam rules be — 5 sets; no ‘breaker in Paris

Analysis: Let Slam rules be — 5 sets; no ‘breaker in Paris

As it is, Rafael Nadal would be a big favorite to win his French Open semifinal, of course. He is, after all, a 12-time champion and a combined 24-0 in that round and finals at Roland Garros; he’s 9-1 against Friday’s opponent, Diego Schwartzman.

There’s also this working in Nadal’s favor: He is coming off a three-set quarterfinal; Schwartzman toiled for five sets across 5 hours, 8 minutes in his previous match.

That’s an advantage Nadal earned, in part, by being more efficient. He deserves any edge it gives him — just like Schwartzman had an edge in his quarterfinal against Dominic Thiem, who had gone five sets in the fourth round. That’s merely one reason that any discussion of switching from best-of-five-set matches to best-of-three for men at Grand Slam tournaments is misguided.

Others: The current format allows for more plot twists, more comebacks, more suspense, more drama; it makes major championships distinct from lesser events; it rewards superior stamina and focus; it fosters fascinating and — sometimes, though not always — memorable matches.

When Stefanos Tsitsipas, the 22-year-old from Greece who faces No. 1 Novak Djokovic in the semifinals Friday, talked about skipping school to watch Roland Garros on TV as a kid, the first match that sprang to mind was a 6-hour, 33-minute win for Fabrice Santoro over Arnaud Clement in 2004 that ended 16-14 in the fifth.

“I watched some epic thrillers, five-set matches,” Tsitsipas said.

Each of the past four Slam men’s finals went five sets and were better for it; two ended in tiebreakers. That can’t happen this Sunday, and that’s OK.

That’s why it’s also misguided to think the French Open should join the other tennis major tournaments in adopting final-set tiebreakers.

“The subject has been discussed,” the French tennis federation told The

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