Vallon Pharmaceuticals, a biopharma developing abuse-deterrent prescription drugs for CNS disorders, announced terms for its IPO on Thursday.
The Philadelphia, PA-based company plans to raise $15 million by offering 1.7 million shares at a price range of $8 to $10. At the midpoint of the proposed range, Vallon Pharmaceuticals would command a fully diluted market value of $57 million.
The company's clinical-stage product currently under development is Abuse-Deterrent Amphetamine Immediate-Release, or ADAIR, a proprietary, abuse-deterrent oral formulation of immediate-release (short-acting) dextroamphetamine for the treatment of attention-deficit/hyperactivity disorder, or ADHD, and narcolepsy. ADAIR has completed a Phase 1 pivotal bioequivalence study and a Phase 1 food effect study.
Vallon Pharmaceuticals was founded in 2018 and plans to list on the Nasdaq under the symbol VLON. ThinkEquity is the sole bookrunner on the deal.
