Dipexium files for $35M IPO


Dipexium Pharma has filed to raise up to $35M in an IPO on Nasdaq and intends to trade under the ticker symbol DPRX.

Dipexium is a late-stage pharmaceutical company focused on the development an antibiotic cream call Locilex, which is based on an extract from the skin of the African Clawed Frog.

Dipexium is initially targeting Locilex for the treatment of mild infections of diabetic foot ulcers. The company plans to start Phase III trials of Locilex in Q2. (S-1)

Comments (2)
  • aftab1234
    , contributor
    Comments (13) | Send Message
     
    do not invest in this company. The product was purchased from another company that went bankrupt (or something similar) after FDA did not approve Locilex. Do a google search on Locilex. Be very aware and stay away from this company; much better value out there
    23 Mar 2014, 10:38 AM Reply Like
  • Joe McCann
    , contributor
    Comments (257) | Send Message
     
    AFTAB - FDA didn't approve due to manufacturing stability and API quality issues. Page 3/4 of the S-1 discuss steps management took before IPO'ing to address these issues.

     

    Phase III was mixed in the results in the late 90s. One positive one Neg and Pooled +. Company has designed this trial w/ the information from that. Still from what the S-1 says the non-approvable letter was due to manufacturing issues specifically.
    1 Mar 2015, 09:40 PM Reply Like
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