Advanced Accelerator Applications, which sells PET scan imaging tracers and is developing a treatment for a rare tumor, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
The company’s lead therapeutic candidate uses molecular nuclear medicine (MNM) and is in Phase 3 trials for for midgut neuroendocrine tumors (NETs). Advanced Accelerator Applications claims its drug represents a significant unmet medical need and has received orphan drug designation from the European Medicines Agency and the US FDA. It currently generates revenue from its branded PET and SPECT scan tracers used as imaging agents.
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