Auspex proposes $69 million follow-on
Rare neurology disease play Auspex Pharmaceuticals Inc. (NASDAQ:ASPX) proposed to raise $69 million in a follow-on underwritten by Stifel; BMO Capital Markets; Baird; William Blair; and Ladenburg Thalmann.
Auspex expects top-line data from the Phase III First-HD trial of SD-809 to treat chorea (sudden, rapid uncontrolled movements) associated with Huntington's disease in 4Q14. The company plans to submit an NDA to FDA for the product -- a deuterium-substituted analog of tetrabenazine, a vesicular monoamine transporter 2 (VMAT2; SLC18A2) inhibitor -- 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. ...