Gemphire Therapeutics Priced, Nasdaq: GEMP

Developing a novel nonstatin therapy to treat high cholesterol.

Industry: Health Care

Latest Trade: $12.27 0.00 (0.0%)

First Day Return: -8.0%

Return from IPO: +22.7%

Industry: Health Care

We are a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for the treatment of dyslipidemia, a serious medical condition that increases the risk of life threatening cardiovascular disease. Dyslipidemia is generally characterized by an elevation of low-density lipoprotein cholesterol, or bad cholesterol, triglycerides, or fat in the blood, or both. We are developing our product candidate gemcabene (CI-1027), a novel, once-daily, oral therapy, for patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies, primarily statin therapy. Gemcabene's mechanism of action is designed to enhance the clearance of very low-density lipoproteins in the plasma and inhibit the production of fatty acids and cholesterol in the liver. Gemcabene is liver-directed and inhibits apolipoprotein C-III protein in the liver and may inhibit acetyl-CoA carboxylase in the liver. Gemcabene has been tested as monotherapy and in combination with statins and other drugs in 895 subjects, which we define as healthy volunteers and patients, across 18 Phase 1 and Phase 2 clinical trials and has demonstrated promising evidence of efficacy, safety and tolerability.
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IPO News for Gemphire Therapeutics
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IPO Data
IPO File Date 04/18/2016
Offer Price $10.00
Price Range $11.00 - $13.00
Offer Shares (mm) 3.0
Deal Size ($mm) $30
IPO Data
IPO Date 08/04/2016
Offer Price $10.00
Price Range $11.00 - $13.00
Offer Shares (mm) 3.0
Deal Size ($mm) $30
Underwriters
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Company Data
Headquarters Northville, MI
Founded 2008
Employees 8
Website www.gemphire.com