Dipexium files for $35M IPO

|About: Dipexium Pharmaceuticals,... (DPRX)|By:, SA News Editor

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)