Low-profile Thar Pharma takes a $50M flier on a weak IPO market
The biotech IPO market has been showing signs of life lately. But that offers no guarantees for Thar Pharmaceuticals, a virtual biotech far off the industry’s beaten path pushing a reformulated pain med that so far has only been tried in a tiny safety study.
Thar’s S-1 notes that the Pittsburgh-based company has raised about $16.5 million so far, enough to pay for a Phase I study of T121, an oral formulation of the IV pain med zoledronic acid. It’s their only pipeline drug.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.