Apnimed Files for US IPO to Support Sleep Apnea Drug Commercialization
Apnimed filed for a US initial public offering to help fund the commercialization of its oral obstructive sleep apnea drug, The late-stage drug developer said it submitted a new application to the US Food and Drug Administration in April for Oxnimbi, a fixed-dose tablet for obstructive sleep apnea, and expects the agency's review to take about 10 months. The company is backed by Japan's Shionogi as well as Morningside Ventures, Alpha Wave Global and Columbia Management. Apnimed reported net income of $67.7 million on revenue of $84.8 million for the three months ended March 31, compared with a net loss of $28.6 million on revenue of $3.1 million a year earlier, according to its SEC filing.
Apnimed filed for a US initial public offering to help fund the commercialization of its oral obstructive sleep apnea drug, The late-stage drug developer said it submitted a new application to the US Food and Drug Administration in April for Oxnimbi, a fixed-dose tablet for obstructive sleep apnea, and expects the agency's review to take about 10 months.
The company is backed by Japan's Shionogi as well as Morningside Ventures, Alpha Wave Global and Columbia Management.
Apnimed reported net income of $67.7 million on revenue of $84.8 million for the three months ended March 31, compared with a net loss of $28.6 million on revenue of $3.1 million a year earlier, according to its SEC filing.