Turning Point unveils $166M IPO; Aquestive’s riluzole film product is accepted for FDA review

Turning Point unveils $166M IPO; Aquestive's riluzole film product is accepted for FDA review

? San Diego-based Turning Point Therapeutics has hit the high end of the range it set for their IPO, pricing an upsized set of 9.3 million shares at $18 a pop. They ended up with $166 million raise, which will go a long way to inspiring more industry IPOs among drug developers.

The biotech $TPTX has been developing what they call oral, second-generation TKIs, reporting some early snapshots of efficacy and at least one death of a patient that may have been drug related. Part of a growing wave of Q2 biotech IPOs, the company plans to push ahead into the Phase II portion of an ongoing study of repotrectinib with an eye to hunting an early approval for ROS1+ advanced NSCLC or NTRK+ solid tumors.

Their success today in breaking out well ahea