Biotech Clarus Therapeutics Files for $86 Million IPO
11/23/2010 7:28:22 AM
DOW JONES NEWSWIRES -- Clarus Therapeutics Inc. has filed plans to sell up to an estimated $86.3 million in shares in an initial public offering. The pharmaceutical company has applied for its shares to be traded on the Nasdaq Global Market under the symbol CLRS. Clarus, which is developing an oral testosterone replacement therapy called OriTex, plans to use proceeds from the IPO to pay for a Phase III trial of the product and to prepare and file papers seeking Food and Drug Administration approval for it.