Auspex raises $84 million in IPO
Rare neurology disease play Auspex Pharmaceuticals Inc. (NASDAQ:ASPX) raised $84 million through the sale of a bumped-up number of shares at the high end of its proposed range in an IPO. Auspex sold 7 million shares at $12, which values the company at $270.3 million. On Tuesday, the company said it planned to sell 6 million shares at $10-$12. Stifel; BMO Capital Markets; Baird; William Blair; and Ladenburg Thalmann are underwriters.
Auspex's SD-809 is in the Phase III First-HD trial to treat chorea (sudden, rapid uncontrolled movements) associated with Huntington's disease. The compound is a deuterium-substituted analog of tetrabenazine, a vesicular monoamine transporter 2 (VMAT2; SLC18A2) inhibitor. The company plans to submit an NDA to FDA in 4Q14 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. ...