Inotek Pharmaceuticals Priced, Nasdaq: ITEK

Biotech developing a small molecule eye drop therapy to treat glaucoma.

Industry: Health Care

Latest Trade: $1.95 0.00 (0.0%)

First Day Return: 0.0%

Return from IPO: -67.5%

Industry: Health Care

We are a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of therapies for glaucoma. Glaucoma is a disease of the eye that is typically characterized by structural evidence of optic nerve damage, vision loss and consistently elevated intraocular pressure. Our lead product candidate, trabodenoson, is a first-in-class selective adenosine mimetic that we rationally designed to lower IOP by restoring the eye’s natural pressure control mechanism. We developed this molecule to selectively stimulate a particular adenosine subreceptor in the eye with the effect of augmenting the intrinsic function of the eye’s trabecular meshwork. The TM regulates the pressure inside the eye, and is also the main outflow path for the fluid inside of the eye that often builds up pressure in patients with glaucoma. We believe that by restoring the natural function of the TM and this outflow path, rather than changing the fundamental dynamics of pressure regulation in the eye, trabodenoson’s mechanism of action should result in a lower risk of unintended side effects and long term safety issues than other mechanisms of action. Additionally, trabodenoson’s unique mechanism of action in the TM should complement the activity of existing glaucoma therapies that exert their IOP-lowering effects on different parts of the in-flow and out-flow system of the eye.
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IPO News for Inotek Pharmaceuticals
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IPO Data
IPO File Date 11/05/2014
Offer Price $6.00
Price Range $6.00 - $6.00
Offer Shares (mm) 6.7
Deal Size ($mm) $40
IPO Data
IPO Date 02/17/2015
Offer Price $6.00
Price Range $6.00 - $6.00
Offer Shares (mm) 6.7
Deal Size ($mm) $40
Underwriters
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Company Data
Headquarters Lexington, MA
Founded 1999
Employees 4
Website www.inotekpharma.com