Cancer IPO Filing: Clovis Oncology (CLVS, CELG, PFE)

June 24, 2011 · Filed Under Cancer, IPO · Comment 

Clovis Oncology, Inc. has filed for an initial public offering.  The company plans to list on the NASDAQ Global Market under the stock symbol “CLVS.”  Financial terms were not disclosed, but Clovis listed that the proposed maximum to be sold in shares is up to $149,500,000.00.

Book-runners are listed as J.P. Morgan and Credit Suisse; and the co-manager is Leerink Swann.

Clovis is a biopharmaceutical outfit focused on acquiring, developing and commercializing innovative anti-cancer agents in the United States, Europe and additional international markets.  The target arena are development programs in subsets of cancer populations.

The company currently is developing three product candidates where it holds global marketing rights:

  • CO-101, a lipid-conjugated form of the anti-cancer drug gemcitabine, which is in a pivotal study in a specific patient population for the treatment of metastatic pancreatic cancer;
  • CO-1686, an orally available, small molecule epidermal growth factor receptor, or EGFR, covalent inhibitor that is currently in preclinical development for the treatment of non-small cell lung cancer, or NSCLC, in patients with activating EGFR mutations, including the initial activating mutations, as well as the primary resistance mutation, T790M;
  • and CO-338, an orally available, small molecule poly (ADP-ribose) polymerase, or PARP, inhibitor being developed for various solid tumors that is currently in a Phase I clinical trial.

The company was founded in April 2009 by former executives of Pharmion Corporation, which developed and commercialized oncology products and which was ultimately acquired by Celgene Corporation (NASDAQ: CELG) in 2008.

Pfizer, Inc. (NYSE: PFE) was listed as a beneficial owner by name, but no actual shares were mentioned.

The company’s full IPO prospectus filing is available here.


AcelRx IPO: New Pain Management on the Way (ACRX)

February 11, 2011 · Filed Under Cancer, IPO, Pain · Comment 

AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) has its IPO priced for at least 8 million shares at $5.00 per share.  The company is pre-revenue and makes a treatment systems for sudden pain management.  The interesting aspect is that more shares were sold than expected, but at a lower price.

The company will use the proceeds from the offering for ongoing development and for the marketing efforts of its hand held painkiller delivery device. AcelRx is as also developing drugs to treat and manage pain associated with cancer as well as for mild sedation to be used by doctors for office treatments and procedures.

Piper Jaffray & Co. is the sole book-running manager and Cowen and Company, Canaccord Genuity, and JMP Securities are the co-managers for the offering.  AcelRx has granted to the underwriters a 30-day overallotment option to purchase up to an additional 1,200,000 shares of common stock at the offering price.

AcelRx’s lead product candidate is ARX-01 Sufentanil NanoTab™ PCA System and it completed Phase 2 clinical development.  This is designed to solve the problems associated with post-operative intravenous patient-controlled analgesia which harms patients after surgery due to the side effects of morphine, the invasive IV route of delivery, and the inherent potential for programming and delivery errors associated with the complexity of infusion pumps.

After the effect of the offering, the four largest venture groups will still own close to 80% of the outstanding shares.


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