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Article: Prestwick Seeks $75M IPO, Readies Tetrabenazine NDA.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
With plans to submit a new drug application this quarter, Prestwick Pharmaceuticals Inc. filed for an initial public offering to raise an estimated $74.8 million in preparation for the potential launch of its dopamine depletor, tetrabenazine.
The Washington-based company has not specified the number of shares or share price for the offering, but reported in its prospectus that proceeds would be used to fund the anticipated U.S. launch of tetrabenazine for the treatment of chorea associated with Huntington's disease. The company, which is seeking a listing on Nasdaq under the symbol "PWCK," could not be reached for comment.
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