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Aegerion Pharmaceuticals (AEGR) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Aegerion Pharmaceuticals (NASDAQ:AEGR) is a biopharmaceutical company which develops and commercializes therapeutics to treat severe lipid disorders. The company's lead compound, lomitapide, is in Phase III clinical trials. The company plans to submit for a New Drug Application with the Food and Drug Administration (FDA) before the end of 2011.[1]
While the severe lipid disorder is quite rate, the company hopes that the lomitapide can also potentailly treat patients with other rare disorders similar to the lipid disorder. According to LEK Consulting firm, the number of potentially patients in the Unites States and the top 5 developed countries in Europe is approximately 6,000.[2]
The company's initial public offering of stock on the NASDAQ and occurred on October 21, 2010. The company offered 5M shares each for $9.5. The company had originally planned to offer 4.7M shares at $14-$16 a share. The company revised both the offer size and the price. The lead underwriters of the deal were Leerink Swann and Lazard (LAZ).[3]
Aegerion is prerevenue since it has yet to put out a marketable drug. The company currently has been accruing debt. The company's net loss in 2008 was -$23M and in 2009 -$12M. The company hopes the money raised from the IPO will help pay for debt and allow the company to continue to make Research & Development investments.[4]
References
- ↑ AEGR S-1/A 2010 Prospectus Summary "Our Company" pg. 1
- ↑ AEGR S-1/A 2010 Prospectus Summary "Patient Populations of Interest" pg. 2-3
- ↑ Renaissance Capital - IPO Home "Aegerion Pharmaceuticals decreases proposed IPO deal size" 22 Oct 2010
- ↑ AEGR S-1/A 2010 Prospectus Summary "SUMMARY FINANCIAL DATA" pg. 8
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