BioPharma Dive February 12, 2025
Proceeds will support testing of drugs designed to suppress hunger in people with the tough-to-treat rare disease and, potentially, more common obesity-related conditions.
Dive Brief:
- Aardvark Therapeutics on Wednesday night raised $94.2 million in an initial public offering that will support development of hunger-suppressing drugs for the rare disease Prader-Willi syndrome and obesity-related conditions.
- The biotechnology startup sold just under 5.9 million shares at $16 apiece in the offering, on the low end of projections it had outlined in a regulatory filing last week. It will start trading on the Nasdaq stock exchange Thursday under the ticker “AARD.”
- The offering is the fifth new stock issuance by a biotech this year this year, according to BioPharma Dive data. IPO...
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