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WIKI ANALYSIS
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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 |
NuPathe (NASDAQ:PATH) is a pharmaceutical company which makes and sells therapeutics for diseases of the central nervous system.[1] The company's main product is Zelrix which is a single use patch used for the treatment of migraines. Zelrix successfully completed a Phase III clinical trial and the company is set to apply for a New Drug Application (NDA) with the Food and Drug Administration (FDA) in late 2010. NuPathe is also developing other treatments for Parkinson's, schizophrenia, and bipolar diseases.[2]
NuPathe currently does not have a sales force, but it plans to build out its own team upon the approval of Zelrix and its other potential drugs. The company is also pre-revenue, but has managed to keep relatively low debt levels by providing investors with equity. The company has $5M in debt as of its IPO.[3]
The company's initial public offering of stock on the NASDAQ occurred on August 5th, 2010. The initial price range is $14-$16, and 5 million shares. After delaying their IPO, they priced at $10 and raised $50M. The lead underwriters for the deal are Leerink Swann and Lazard Capital Markets.[4]
Because the company is pre-revenue, it reported no revenue for FY2009. NuPathe reported a net loss of $17.5M for FY2008 and a net loss of $15.5M for 2009. The company will likely not generate any revenue until its first product is approved by the FDA. The company does not plan to apply for approval until late 2010.[5]
References
- ↑ PATH S-1A 2010 "Prospectus Summary" pg 1
- ↑ PATH S-1A 2010 "Our Product Candidates" pg 1-2
- ↑ PATH S-1A 2010 "Risks Associated with our Business" pg 3
- ↑ Renaissance Capital - IPO "NuPathe (Pathe)"
- ↑ PATH S-1A 2010 "Summary of Financial Data" pg 7
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