These companies have recently completed the steps to join the public market, allowing more opportunities for pharmaceutical investors.
These companies have recently completed the steps in joining the public market, allowing more opportunities for pharmaceutical investors.
This environment of investors is ever changing with the open conversation of drug prices in the US, making way for the threat of a pharmaceutical pricing structure in the country.
Aside from President Donald Trump’s remarks and pact to end the high prices of pharmaceuticals, possibly allowing a more accessible pricing scale, private insurance companies also have an increasing role.
Nonetheless, this isn’t proving to be a big concern that has impacted pharmaceutical companies’ stock prices or investor opinions. The big pharma companies responsible for many of the high prices are still showing steady increases in share prices.
From a list brought together by NASDAQ’s recently priced IPOs from July 2018, the Investing News Network (INN) is identifying each company’s strengths and what each respective company is bringing to the table in the pharmaceutical industry.
The list includes all IPOs made on the NASDAQ global markets and New York Stock Exchange. All figures are quoted in US dollars and prices were taken from Google Finance as Friday (August 3) at 3 p.m. EST, companies are listed by date of priced public offering.
1. Crinetics Pharmaceuticals (NASDAQ:CRNX)
Market cap: $580 million; current share price: $27.20
A clinical stage company, Crinetics is focused on developing therapeutics for rare endocrine diseases and endocrine-related tumors. The company has three programs in its pipeline, two in pre-clinical development and the other in Phase 1 clinical trials. The results from this trial were presented in March at the Annual Meeting of the Endocrine Society.
The pricing of its initial public offering was for six million shares, priced at $17.00 per share. This equals out to an expected $102 million for the company after commissions and discounts are deducted.
2. Constellation Pharmaceuticals (NASDAQ:CNST)
Market cap: $268.05 million; current share price: $10.43
With a public offering priced at $15.00 per share for four million shares, this IPO will bring in $60 million for the company. Constellation is a clinical stage company working on epigenetics to discover and develop therapeutics for oncology treatments with abnormal gene expression or drug resistance.
In its pipeline are four candidates, with the most developed in its Phase 2 trial of development, another two in Phase 1 and the last in preclinical development. The furthest along, CPI-0610, is its BET inhibitor which is being tested for myelofibrosis.
3. Aquestive Therapeutics (NASDAQ:AQST)
Market cap: $359.05 million; current share price: $15.02
Aquestive Therapeutics is a commercial stage company working on developing differentiated products. The company priced its IPO to acquire gross proceeds of $67.5 million from 4.5 million shares priced at $15.00 each.
This company has most of its drugs in development in the late stages, including three programs filed for approval and two in Phase 3 development, while another two are in preclinical development. Some of the differentiated therapeutic treatment indications include Lennox-Gastaut Syndrome, acute repetitive seizures and anaphylaxis.
4. Liquidia Technologies (NASDAQ:LQDA)
Market cap: $168.53 million; current share price: $11.15
With over 4.5 million shares priced at $11.00 each, Liquidia had gross proceeds of $50 million for its IPO. Liquida is developing therapeutics with its PRINT technology, a particle engineering platform which enables precise production of uniform drug particles.
The company has two products in its pipelines, LIQ861 and LIQ865. The first is a dry powder inhaler for pulmonary arterial hypertension in its Phase 3 stage of development. Whereas the second, LIQ865 is a sustained release local post-operative pain treatment in Phase 1 a clinical trial.
5. Adial Pharmaceuticals (NASDAQ:ADIL)
Market cap: $24.75 million; current share price: $4.00
The last on the list, and closest to the end of the month with its IPO, is Adial. This company specializes on the development of a therapeutic agent for the treatment of alcohol use disorder, AD04.
The drug candidate successfully finished its Phase 2b clinical trial with no statistically significant serious adverse events and the company is planning the Phase 3 study. Adial’s IPO brought in $7.32 million for the company with 1.464 shares priced at $5.00 each.
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Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.