Neothetics sets IPO terms

Neothetics Inc. (San Diego, Calif.) set terms for its IPO on NASDAQ and plans to sell 4.3 million shares at $13-$15. At $14, Neothetics would raise $60.2 million and be valued at $185.7 million. Piper Jaffray; Guggenheim Securities; and Needham are underwriters.

Next half, Neothetics expects to begin two Phase III trials of LIPO-202, a subcutaneous formulation of salmeterol, to reduce central abdominal bulging due to subcutaneous fat in non-obese patients. It expects top-line data by YE15, with an NDA submission for the long-acting adrenergic receptor beta 2 agonist (LABA) slated for 2H16. ...