S1 Biopharma, a biotech developing a combined therapy of existing drugs for female sexual dysfunction, announced terms for its IPO on Wednesday. The New York, NY-based company plans to raise $36 million by offering 2.8 million shares at a price range of $12 to $14. At the midpoint of the proposed range, S1 Biopharma would command a fully diluted market value of $132 million.
S1 Biopharma is entering Phase 2b trials for its lead candidate, which targets female hypoactive sexual desire disorder (HSDD), a lack or absence of sexual desire causing marked distress and interpersonal difficulties. Its oral drug combines two antidepressants, bupropion and trazodone, meaning it could achieve approval through the shortened 505(b)(2) NDA pathway. S1 also has a drug candidate in Phase 2a trials for male HSDD.
Primary shareholders include management and directors.
Another small sexual health biotech, Vyrix Pharmaceuticals (VYRX), filed in April for a $30 million IPO.
S1 Biopharma, which was founded in 2010, plans to list on the NASDAQ under the symbol SXB. MLV & Co is the sole bookrunner on the deal. It is expected to price during the week of November 10, 2014.
