Boulder-based pharmaceutical company, Nivalis Therapeutics files for IPO
Friday, May 15, 2015
Nivalis Therapeutics, a Boulder-based pharmaceutical company, on Wednesday filed its plans for an initial public offering to continue its cystic fibrosis research and treatment development.
Nivalis Therapeutics, formerly known as N30 Pharmaceuticals, said it intends to raise as much as $60 million.
The company is currently creating the compound "N9115" to treat the disease, which affects the lungs and digestive system.
Nivalis said in its SEC filing that successful completion and marketing of N9115, which has not yet been approved by the FDA, is necessary before the company will become profitable.
"We have devoted most of our financial resources to research and development, including our preclinical research and development activities and clinical trials," the company said in the filing.
The Denver Post reports that the company last year raised $30 million in a mezzanine round of financing from a variety of investors.
The public filing lists financial risks of $130.3 in accumulated deficit and $40.8 million in "significant net losses" over the past three years.
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