Alzheon, a Phase 3 biotech developing small molecule therapies for Alzheimer's disease, filed on Monday with the SEC to raise up to $40 million in an initial public offering.
The company had previously attempted to go public in April 2018 but ultimately withdrew the deal, which we attributed to a history of challenges in Alzheimer's drug development. This renewed attempt scales down the offering size from $70 million, and former bookrunners Citi and Piper Jaffray have been replaced by ThinkEquity.
The Framingham, MA-based company was founded in 2013 and plans to list on the Nasdaq under the symbol ALZH. Alzheon filed confidentially on December 21, 2017. No pricing terms were disclosed.
The article Alzheimer's biotech Alzheon re-files files for a $40 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
