Recro files for IPO

Pain company Recro Pharma Inc. (Malvern, Pa.) filed to raise up to $28 million in an IPO underwritten by Aegis Capital. Recro's Dex-IN is an intranasal formulation of dexmedetomidine, a selective adrenergic receptor alpha 2 ( ADRA2) agonist. Recro is planning a Phase IIb trial for Dex-IN to treat post-operative pain. The company is developing Dex-IN under section 505(b)(2) of the Food, Drug and Cosmetic Act, which allows sponsors to reference data on safety and efficacy from the scientific literature or from previously approved products. ...