Apnimed Shares Rise After Upsized $192 Million US IPO

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2▲2 ▼0Impact / 5
Summary · why it matters

Apnimed Inc., a late-stage drug developer focused on sleep apnea, rose 6.3% on Friday after raising $192 million in an upsized US initial public offering. The company sold 12 million shares at $16 each, above the marketed range of 10 million shares for $14 to $16, and the stock traded at $17 per share as of 11:57 a.m. in New York. The listing gives the Cambridge, Massachusetts-based firm a market value of about $680 million. Apnimed is developing an oral tablet, Oxnimbi, to treat obstructive sleep apnea and submitted a marketing application to the US Food and Drug Administration in April, with a regulatory review expected to take 10 months. The offering was led by Bank of America Corp., Evercore Inc., Cantor Fitzgerald and LifeSci Capital, and shares trade on the Nasdaq Global Market under the symbol APMD.

Impact on assets 4

Financials▲ · 3 stocks
Bank of America Corp
BAC
▲ PositiveCapitalrelevance

Lead underwriter of the IPO, earning fees and enhancing deal pipeline.

Biotech & Genomic Medicine▲ · 1 stocks

Off-coverage companies 2

Cantor FitzgeraldPrivate▲ Positive
Capitalrelevance

Lead underwriter of the IPO, earning fees and enhancing deal pipeline.

LifeSci CapitalPrivate▲ Positive
Capitalrelevance

Lead underwriter of the IPO, earning fees and enhancing deal pipeline.

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