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Aspirin without the ulcers: PLx Pharma files for a $20 million IPO

October 5, 2015

PLx Pharma, which is commercializing a delayed-release aspirin based on its proprietary lipid coating, filed on Monday with the SEC to raise up to $20 million in an initial public offering.

The company claims that its approved formulation of aspirin, PL2200 demonstrated a significant reduction in acute ulcers compared to immediate-release aspirin, and more reliable antiplatelet benefits than enteric aspirin. PLx Pharma also has a pipeline of other oral nonsteroidal anti-inflammatory drugs (NSAIDs) using its delivery system, including ibuprofen.

The Houston, TX-based company, which was founded in 2002, plans to list on the Nasdaq under the symbol PLXP. PLx Pharma initially filed confidentially on August 18, 2015. Maxim Group is the sole bookrunner on the deal. No pricing terms were disclosed.