Viamet Revisits IPO Plans, This Time With More Data
Summary
Viamet Revisits IPO Plans, This Time With More Data Xconomy Raleigh-Durham — Viamet Pharmaceuticals is taking another swing at the public markets, filing plans for an initial public offering intended to finance the work needed to bring its lead antifungal drug to the brink of late-stage clinical studies in two types of infections.Viamet says these metalloenzymes play a role in a range of biochemical reactions, and the company develops drugs that block them.At that time, Viamet spun off its Dow Agro partnership and its prostate cancer program into a separate company called Innocrin Pharmaceuticals.The company says that proceeds from the stock offering, along with its existing cash reserves, will not be enough to complete clinical development of any of its drug candidates.According to the SEC filing, the company, which does not yet have any commercially available products and is no longer drawing any revenue from partnerships, lost $32.7 million in 2015.