Biotie Therapies Priced, Nasdaq: BITI

Developing a therapy to extend the efficacy of levodopa for Parkinson's disease.

Industry: Health Care

Latest Trade: $25.80 0.00 (0.0%)

First Day Return: +38.4%

Return from IPO: +73.3%

Industry: Health Care

We are a biopharmaceutical company primarily focused on developing therapeutics for central nervous system disorders. Our pipeline includes product candidates designed to address unmet medical needs in Parkinson’s disease and related dementia, other neurodegenerative indications and primary sclerosing cholangitis, an orphan fibrotic liver disease. In addition, we have successfully developed a product for alcohol dependence that is being commercialized by Lundbeck and is a source of further potential milestone payments and ongoing royalties. We are preparing to commence a pivotal Phase 3 clinical trial of our lead product candidate, tozadenant, that we believe could form the basis for its approval in the United States as an adjunctive treatment to levodopa in Parkinson’s. Levodopa, the most widely prescribed treatment for Parkinson’s, loses effectiveness in most patients over time. Parkinson’s patients often experience a reemergence of debilitating symptoms on a daily basis as their levodopa doses wear off. Tozadenant is an oral, selective adenosine A2a receptor antagonist that aims to address this wearing off effect. In a 420-patient Phase 2b trial, tozadenant displayed clinically important and statistically significant effects across prespecified primary and multiple secondary endpoints at a number of doses. In addition, tozadenant has been found to be generally safe and well tolerated in our ten clinical trials conducted to date.
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IPO News for Biotie Therapies
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IPO Data
IPO File Date 05/14/2015
Offer Price $14.89
Price Range $14.82 - $14.82
Offer Shares (mm) 3.8
Deal Size ($mm) $56
IPO Data
IPO Date 06/10/2015
Offer Price $14.89
Price Range $14.82 - $14.82
Offer Shares (mm) 3.8
Deal Size ($mm) $56
Underwriters
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Company Data
Headquarters Turku, Finland
Founded 1998
Employees 40
Website www.biotie.com