Alzheon steps back from an IPO, further than ever from a PhIII Alzheimer’s study
Alzheon won’t be profiting from an IPO soon.
The tiny biotech, which has been trying to fund a late-stage trial for a once-failed drug called ALZ-801 (tramiprosate), notified investors on Friday that they’re postponing the IPO they filed in search of about $70 million or $80 million, according to an alert from Renaissance Capital.
We’ll have to wait and see if they try it again.
Alzheon’s timing was bad. Its strategy involved getting an amyloid beta drug that had failed at Bellus, then relying on post hoc analysis to spotlight a success in a subset of patients with two copies of the APOE4 gene and better trial design to argue they had a shot at winning the lottery in Alzheimer’s.
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