July 10 (Reuters) – Apnimed, a late-stage clinical pharmaceutical company, filed for an initial public offering in the U.S. on Friday.
The biotech sector has staged a notable comeback as fresh capital flows back into the industry, improving market sentiment after a prolonged downturn.
Initial public offerings in the biotech sector plunged to their lowest level in more than a decade in 2025.
Founded in 2017, Apnimed is a clinical-stage company focused on developing oral medicines to treat obstructive sleep apnea (OSA) and related disorders.
The company’s lead drug candidate, AD109, an experimental once-daily pill for obstructive sleep apnea, in May met the primary endpoint in a late-stage trial, potentially offering a convenient alternative to device-based treatments. AD109 is taken at bedtime.
Apnimed has submitted a marketing application for it and expects a potential FDA decision date in the first quarter of 2027.
BofA Securities, Evercore ISI, Cantor and LifeSci Capital are the underwriters for the offering.
It intends to list its shares on Nasdaq under the symbol “APMD.”
(Reporting by Pragyan Kalita in Bengaluru; Editing by Tasim Zahid)
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