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Tarsus Pharmaceuticals Proposes Terms For $80 Million IPO

Tarsus Pharmaceuticals Proposes Terms For $80 Million IPO

Tarsus Pharmaceuticals (TARS) intends to raise $80 million in an IPO of its common stock, according to an S-1 registration statement.

Irvine, California-based Tarsus was founded to advance a portfolio of treatment options for various eye conditions caused by mites and other parasites.

Management is headed by co-founder, president and CEO Mr. Bobak Azamian, M.D., Ph.D., who has been with the firm since and was previously co-founder, CEO and CMO of Metavention, a company seeking to treat diabetes and other metabolic diseases.

Below is a brief overview video of Demodex Blepharitis:

Source: Nattawut Wanumkarng

The company’s lead candidate is TP-03, a treatment being developed for three indications related to the Demodex mite.

Management expects to provide top line data results for its Phase 2b/3 Saturn-1 trial in 2021, as well as initiate a Phase 3 Saturn-2 trial in 2021.

Below is the current status of the company’s drug development pipeline:

tarsuspipe

Source: Company S-1 Filing

Investors in the firm have invested at least $63.4 million and include Horowitz Limited Partnership, Vivo Capital, Flying L Investments, Frazier Life Sciences, Visionary Venture Fund, RTW Investments and Cormorant Asset Management.

According to a 2018 market research report by Transparency Market Research, the global incidence of patients with increased ocular disorders is increasing due to the rise in the elderly population.

In a recent survey report in the U.S., 37% – 47% of patients ‘were diagnosed with signs of blepharitis.’

Related conditions to blepharitis include acne rosacea, Lyme disease and malaria, all areas in which the firm is pursuing treatments.

However, drugs with significant side effects or lengthy procedures can hamper market adoption.

Major competitive vendors that provide or are developing treatments include:

  • Azura Ophthalmics
  • Aperta Biosciences
  • Eyevance Pharmaceuticals
  • Formosa Pharmaceuticals
  • Hovione Scientia
  • Nicox SA (NICXF)
  • Novaliq GmbH
  • Premark Pharma
  • Quorum Innovations

Tarsus’s recent financial

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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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