Neos Therapeutics Sets Price for IPO

By Chris Lange Published Jul 13, 11:50AM EDT

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Neos Therapeutics Inc. has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). The expected price range is $14 to $16 per share for 4 million shares, with an overalottment option for an additional 600,000 shares. At the maximum price, the total offering is valued up to $73.6 million. The company plans to list on the Nasdaq Global Market under the symbol NEOS.

The underwriters for this offering are UBS, BMO, RBC and JMP Securities.

The company is in the pharmaceutical industry and focused on developing, manufacturing and commercializing products utilizing its proprietary modified-release drug delivery technology platform. Neos has already used this platform to develop three branded product candidates for the treatment of attention deficit hyperactivity disorder (ADHD).

The product candidates are extended-release (XR) medications in orally disintegrating tablet (ODT) or liquid suspension dosage forms. Neos has a Prescription Drug User Fee Act (PDUFA) goal date of November 9, 2015, for NT-0102. Ultimately the company expects to resubmit an New Drug Application (NDA) for NT-0202 by the end of July 2015, and submit an NDA for NT-0201 in the third quarter of 2015.

In the filing, the company detailed its pipeline:

Our product candidates incorporate two of the most commonly prescribed medications for the treatment of ADHD, methylphenidate and amphetamine. Our proprietary modified-release drug delivery platform has enabled us to create novel, extended-release ODT and liquid suspension dosage forms of these medications. If approved, we believe our most advanced product candidates, NT-0102 and NT-0202, will be the first methylphenidate XR-ODT and the first amphetamine XR-ODT, respectively, for the treatment of ADHD.

The proceeds from this offering are going toward the commercialization of its three lead product candidates. Separately, the proceeds will be used for working capital, capital expenditures and general corporate purposes.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.