BioCentury
ARTICLE | Financial News

Infectious company Aridis raises $26M in NASDAQ IPO

August 17, 2018 3:33 AM UTC

Infectious disease mAb company Aridis Pharmaceuticals Inc. (NASDAQ:ARDS) raised $26 million on Aug. 13 through the sale of 2 million shares at $13 in an IPO on NASDAQ. Cantor Fitzgerald, Maxim Group, Laidlaw, Northland Securities and Seaport Global Securities underwrote the offering. The price is at the bottom of the $13-$15 range the company proposed on Aug. 6 (see "Aridis Amends IPO").

The company is developing lead candidate Salvecin tosatoxumab (AR-301) to treat severe hospital-acquired pneumonia (HAP) or ventilator-associated pneumonia (VAP) caused by Staphylococcus aureus. Aridis said patients treated with AR-301 as an adjunct to standard-of-care (SOC) antibiotics spent less time under mechanical ventilation in a Phase IIa trial in the indication. The company expects to start a Phase III trial this half...