By Sabela Ojea
Aprinoia Therapeutics is filing for an initial public offering, according to a Securities and Exchange Commission filing.
The clinical stage biotech company focused on neurodegenerative diseases on Monday said that it is offering 2 million shares at an estimated price of $10 to $14.
The company has applied to list its shares on the Nasdaq Global Market under the symbol APRI.
Aprinoia Therapeutics expects net proceeds from the IPO of about $20.5 million, which are aimed to be used toward research and development ambitions, as well as toward working capital and other general corporate purposes.
In the first half of 2023, the company posted a net loss of $7.2 million, or 18 cents a share, compared with a loss of $13.7 million, or 36 cents a share, for the same period a year earlier.
It also reported revenue of $9 million from $295,000 for the same period a year earlier.
Write to Sabela Ojea at [email protected]
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