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Phase 2 sedative and anesthesia biotech Melt Pharmaceuticals files for a $15 million IPO

September 21, 2022

Melt Pharmaceuticals, a Phase 2 biotech developing non-opioid non-IV sedatives and anesthesia, filed on Wednesday with the SEC to raise up to $15 million in an initial public offering.

Melt is a clinical stage pharmaceutical company focused on the development and commercialization of proprietary non-opioid, non-IV, sedation and anesthesia therapeutics for human medical procedures in hospital, outpatient and in-office settings. Melt was formed as a wholly-owned subsidiary of Harrow Health in 2018, but is no longer a subsidiary of Harrow. The company expects top-line results from the Phase 2 study of its lead candidate, MELT-300, in the fourth quarter of 2022

The Brentwood, TN-based company was founded in 2018 and plans to list on the Nasdaq under the symbol MELT. Aegis Capital Corp. is the sole bookrunner on the deal. No pricing terms were disclosed.