Alzheon
NEWS
A 2013 study that analyzes IPO withdrawals between 1999 and 2004 found that about 13 percent returned later for a successful IPO, 36 percent turned again to raising capital privately, and 42 percent either merged or were acquired by other companies—another common strategy for biotechs. And about 11 percent filed bankruptcy.
Last year was a record year for biotech initial public offerings (IPOs), but 2019 is off to a slow and rocky start because of the government shutdown, which today is in its 31st day.
The third time may be the charm for Framingham, Mass.-based Alzheon when it comes to an initial public offering – because the company has balked the first two times it attempted to go public on the stock exchange.
In April, Alzheon attempted an initial public offering (IPO) to raise $80 million, but withdrew the offering. It has decided to try again, filing with the U.S. Securities and Exchange Commission (SEC), indicating it planned to raise $40 million in an IPO.
Scientists with Framingham, Massachusetts-based Alzheon identified a substance in the human brain that inhibits the formation of beta-amyloid, the primary driver of Alzheimer’s disease. The substance is 3-sulfopropanoic acid (3-SPA).
The 2018 BIO International Convention will be officially running from June 4 through June 7 and is celebrating 25 years of innovation.
Biopharmaceutical companies are focusing their drugs for smaller and smaller and more clearly delineated patient populations. No longer is a drug for lung cancer or even non-small cell lung cancer, but a much smaller segment.
Only days after UK-based Mereo BioPharma canceled its plans for an initial public offering (IPO) on the Nasdaq Global Market, Framingham, Massachusetts-based Alzheon dropped its IPO plans.
Mereo pulled its planned initial public offering (IPO) on the Nasdaq Global Market, saying market conditions were not in the best interests of its shareholders. The company’s statement is getting some pushback from investors and analysts.
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