Company: Menlo Therapeutics, Inc.
Symbol: MNLO
Description: They are a late‑stage biopharmaceutical company focused on the development and commercialization of serlopitant for the treatment of pruritus, or itch, associated with dermatologic conditions such as atopic dermatitis, psoriasis and prurigo nodularis.
Shares: 5.67 million
Price Range: $14.00-$16.00
Trade Date: 1/25
Underwriter(s): Jefferies, Piper Jaffray, Guggenheim Securities
Co-Manager(s): JMP Securities
Terms Added: 1-12-18
Business: They have initiated a broad clinical development program for serlopitant as a once‑daily oral tablet treatment for pruritus associated with multiple underlying chronic dermatologic conditions and for the treatment of refractory chronic cough. They expect data from their ongoing Phase 2 clinical trial in pruritus associated with atopic dermatitis in the second quarter of 2018 and from our ongoing Phase 2 clinical trials in pruritus associated with psoriasis and refractory chronic cough by late 2018 or early 2019. They plan to initiate two Phase 3 clinical trials in pruritus associated with prurigo nodularis in the first half of 2018, with results expected in the first half of 2020. If these and future clinical trials they may initiate are successful, they could potentially submit a New Drug Application, or NDA, for up to three indications in 2020: pruritus associated with atopic dermatitis, psoriasis and prurigo nodularis.
Insider Buying: Certain of their existing institutional investors, including investors affiliated with certain of our directors, have indicated an interest in purchasing an aggregate of up to approximately $40 million in shares of our common stock in this offering at the initial public offering price and on the same terms as the other purchasers in this offering.
Collaboration & License Agreement: They have a license and collaboration agreement with JT Torii under which they have granted JT Torii the rights to develop and commercialize products containing serlopitant in Japan in exchange for an up‑front payment and potential future development, regulatory and commercial milestone payments and royalties based on future sales of licensed product in Japan.
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