Itamar Medical ADRs (NASDAQ:ITMR) are 4.7% lower postmarket after the company proposes a $30M offering of American Depositary Shares.
Each ADS represents 30 ordinary shares of the Israel-based company.
Underwriters will receive a 30-day greenshoe option to buy up to an additional 15% of ADS.
It expects to use net proceeds to hire more sales and marketing personnel as well as fund product development, R&D and clinical research and invest in information technology and facility infrastructure.
Piper Sandler is sole bookrunner.
Hepion Pharma +46% on positive NASH data
Hepion Pharmaceuticals (NASDAQ:HEPA) has jumped 46% after hours after it posted positive lab data for its drug candidate for treating liver disease nonalcoholic steatohepatitis (NASH).
An expanded study with human precision cut liver slices shows that CRV431 prevented experimentally induced liver fibrosis to a greater extent than four other NASH drug candidates (obeticholic acid, elafibranor, resmetirom and Aramchol).
A Phase 1, single ascending dose study previously showed CRV431 to be safe and well tolerated in humans. Currently, CRV431 is being administered to humans in a 28-day multiple ascending dose study.
BioPharmX to merge with Timber Pharmaceuticals; shares up 9% after hours
BioPharmX (NYSEMKT:BPMX) and privately held Timber Pharmaceuticals have agreed to merge in an all-stock transaction.
Timber has committed to securing at least $20M in financing to support the combined company’s operations. It has also agreed to provide a $2.25M bridge loan to BioPharmX in exchange for a 30-month warrant to purchase ~2.3M BPMX common shares.
Timber investors and the providers of the $20M will own ~88.5% of the combined company while BioPharmX shareholders will own ~11.5%.
Lead candidate is Phase 2-stage TMB-001 (topical isotretinoin) for the potential treatment of moderate-to-severe subtypes of congenital ichthyosis (inherited disorder characterized by dry, thickened and scaly skin).
Shares up 9% after hours.
FDA OKs Teva autoinjector for Ajovy
The FDA has approved an autoinjector device for Teva Pharmaceutical Industries’ (NYSE:TEVA) migraine med Ajovy (fremanezumab-vfrm). Market launch will commence in the coming months.
Conatus to merge with Histogen
Conatus Pharmaceuticals (NASDAQ:CNAT) and privately held Histogen have agreed to merge in an all-stock transaction. Conatus shareholders will own ~26% of the combined company while Histogen investors will own ~74%.
The new organization will do business as Histogen and will trade under a new ticker. The tie-up should be finalized by the end of next quarter.
Histogen is a regenerative medicine firm. Lead candidate is HST 001, an injectable Hair Stimulating Complex for hair regrowth.
The companies will host a conference call at 4:30 pm ET to discuss the combination.
