Centrexion eyes $70M-$80M in IPO with big plans for PhIII non-opioid painkiller
With both of Centrexion’s Phase III registration studies in full swing, Jeff Kindler is angling for as much as $80 million in IPO cash to tackle a “pain crisis” head on — the majority of which will be spent on its lead asset.
The Boston, MA-based company is offering 5 million shares between $14 and $16. At the midpoint, that would translate to a market value of $354 million.
Under the leadership of Kindler, a former CEO at Pfizer, Centrexion has burned through $125.7 million building up what it calls “one of the industry’s largest pipelines of novel, non-opioid and non-addictive, clinical-stage product candidates for the treatment of chronic pain.”
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