Aridis proposes $34.5M IPO

Infectious disease company Aridis Pharmaceuticals Inc. (San Jose, Calif.) proposed on July 18 to raise $34.5 million in an IPO on NASDAQ underwritten by Cantor, Maxim Group and Northland Capital Markets.

The company's lead candidate Salvecin (AR-301, tosatoxumab) is a human IgG1 mAb against Staphylococcus aureus alpha-hemolysin (aHL) generated using MablgX technology that has completed a Phase IIa trial to treat acute pneumonia caused by S. aureus infection. Aridis plans to start a Phase III trial of Salvecin this half, with interim data expected in 2H19...