ARTICLE | Financial News

Flexion, KineMed file for IPOs

January 9, 2014 2:08 AM UTC

Pain play Flexion Therapeutics Inc. (Burlington, Mass.) and biomarker discovery company KineMed Inc. (Emeryville, Calif.) filed for IPOs on NASDAQ. Flexion filed to raise up to $86.3 million in an IPO underwritten by BMO Capital Markets and Wells Fargo Securities. Next quarter, Flexion plans to start a Phase IIb trial of FX006 to treat moderate to severe osteoarthritis (OA) pain. Flexion previously reported that a single intra-articular injection of FX006 -- a sustained-release intra-articular formulation of triamcinolone acetonide -- significantly improved the magnitude and duration of pain relief at 12 weeks vs. an immediate-release (IR) formulation in a Phase IIb trial for OA pain of the knee (see BioCentury Extra, June 26, 2013). ...