Turn­ing Point un­veils $166M IPO; Aque­s­tive's rilu­zole film prod­uct is ac­cept­ed for FDA re­view

San Diego-based Turn­ing Point Ther­a­peu­tics has hit the high end of the range it set for their IPO, pric­ing an up­sized set of 9.3 mil­lion shares at $18 a pop. They end­ed up with $166 mil­lion raise, which will go a long way to in­spir­ing more in­dus­try IPOs among drug de­vel­op­ers.

The biotech $TP­TX has been de­vel­op­ing what they call oral, sec­ond-gen­er­a­tion TKIs, re­port­ing some ear­ly snap­shots of ef­fi­ca­cy and at least one death of a pa­tient that may have been drug re­lat­ed. Part of a grow­ing wave of Q2 biotech IPOs, the com­pa­ny plans to push ahead in­to the Phase II por­tion of an on­go­ing study of re­potrec­tinib with an eye to hunt­ing an ear­ly ap­proval for ROS1+ ad­vanced NSCLC or NTRK+ sol­id tu­mors.

Endpoints News

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.