Drug maker Cortendo AB has filed for an initial public offering, seeking to sell up to $86.3 million in ordinary shares, according to a filing on Friday. The company, incorporated in Sweden and based in the U.S., focuses on drugs for rare endocrine disorders and other rare diseases. It warned it has never generated any revenues from product sales and “may never be profitable.” Bank of America Merrill Lynch and Stifel are among the underwriters.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News