Aratana Therapeutics, Inc
) announced that it has initiated a public offering of 5,500,000
shares of its common stock. Aratana is offering 81.8% of the
shares while the remaining are offered by certain stockholders.
Underwriters have been granted an option to purchase an
additional 825,000 shares of Aratana's common stock, with a
30-day window to do so.
We believe that Aratana, a biopharmaceutical company focused
exclusively on pet therapeutics, will most likely use the funds
for the development of its pipeline.
Since 2010, Aratana has in-licensed three compounds, namely,
AT-001 (pain in dogs and cats), AT-002 (inappetence in dogs and
cats) and AT-003 (post-surgical pain in dogs and cats).
In Nov 2013, Aratana announced positive top-line results from
its pivotal dose-ranging study on AT-001. Results revealed that
significant improvement in pain assessment scores were observed
in dogs receiving AT-001 compared to those on placebo. Aratana
now plans to advance AT-001 into a pivotal field effectiveness
study in 2014. Aratana expects positive results from the pivotal
field effectiveness study will allow the company to seek
marketing approval of the candidate. Aratana intends to
commercialize AT-001 in 2016.
Aratana has initiated a pivotal field effectiveness study on
AT-002. Top-line results from the study are expected in the first
half of 2015 with approval expected in 2016. Aratana also intends
to initiate a pilot field study on AT-003 in client-owned dogs
Aratana carries a Zacks Rank #4 (Sell). Some better-ranked
players in the pharma industry include
Lannett Co. Inc.
). All the three stocks carry a Zacks Rank #1 (Strong Buy).
ACTELION LTD (ALIOF): Get Free Report
ENDOCYTE INC (ECYT): Free Stock Analysis
LANNETT INC (LCI): Free Stock Analysis Report
ARATANA THERAP (PETX): Free Stock Analysis
To read this article on Zacks.com click here.