Menlo Therapeutics (NASDAQ:MNLO) to Raise $86 Million in IPO

Menlo Therapeutics (MNLO) is planning to raise $86 million in an initial public offering on Thursday, January 25th, IPO Scoop reports. The company plans to issue 5,700,000 shares at $14.00-$16.00 per share.

In the last twelve months, Menlo Therapeutics generated $2.3 million in revenue and had a net loss of $24.6 million. The company has a market-cap of $308.9 million.

Jefferies, Piper Jaffray and Guggenheim Securities acted as the underwriters for the IPO and JMP Securities was co-manager.

Menlo Therapeutics provided the following description of their company for its IPO: “We are a late‑stage biopharmaceutical company focused on the development and commercialization of serlopitant for the treatment of pruritus, or itch, associated with dermatologic conditions such as atopic dermatitis, psoriasis and prurigo nodularis. There are currently no therapies approved in the United States that are primarily intended to reduce the pruritus associated with these conditions. We are concurrently evaluating the use of serlopitant for the treatment of refractory chronic cough, a cough that persists for greater than eight weeks despite treatment of any identified underlying cause. There are currently no drugs specifically approved for refractory chronic cough in the United States. These indications each represent a significant patient need. We believe that serlopitant, a highly selective, once‑daily, oral small molecule inhibitor of the neurokinin 1 receptor, or NK1‑R, has the potential to significantly alleviate pruritus and refractory chronic cough symptoms. “.

Menlo Therapeutics was founded in 2011 and has 32 employees. The company is located at 200 Cardinal Way, 2nd Floor, Redwood City, CA 94063 US and can be reached via phone at (650) 486-1416 or on the web at http://www.menlotherapeutics.com.

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