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Accelerated Pharma on deck for IPO

Published 11/10/2016, 11:59 AM
Accelerated Pharma on deck for IPO
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AZN
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  • Westport, CT-based Accelerated Pharma (Pending:ACCP) is set for its IPO of 1,888,889 shares of common stock at $8 - 10.
  • The clinical stage biopharmaceutical firm employs its genomic technology to enhance the development of pre-existing pharmaceutical products for the treatment of a range of cancers and to prospectively identify patients who may be the best responders to therapy.
  • Its lead product candidate is Picoplatin, a next-generation platinum-based chemotherapeutic. Its value proposition is less unwanted side effects and improved ability to overcome platinum resistance. Phase 2 studies in colorectal cancer and squamous head and neck cancer should commence this month.
  • Picoplatin was originally developed by a subsidiary of AstraZeneca (NYSE:AZN). It was then sold to Genzyme (NYSE:SNY) who licensed it to Poniard Pharmaceuticals. In early November 2009, Poniard announced that a Phase 3 study in small cell lung cancer failed to achieve its primary efficacy endpoint and stopped development. In 2013, Encarta (predecessor to Tallikut Pharmaceuticals) acquired certain assets from Poniard including the Genzyme license. Accelerated Pharma obtained the rights via an exclusive license with Tallikut in June 2014.
  • 2016 Financials (9 mo.)($M): Operating Expenses: 2.7 (+114.0%); Net Loss: (2.7) (-114.0%); Cash Burn: (1.7) (-43.1%).

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