Aspargo Labs, which makes an oral liquid suspension formulation of a drug for erectile dysfunction, filed on Friday to register its shares with the SEC and complete a direct listing on the NYSE. The shares of common stock listed will be sold by existing shareholders; Aspargo Labs will not raise new capital in its listing. The company did not disclose a reference price or anticipated timing of its listing.
The Registered Stockholders plan to sell up to 177 million shares. In the third quarter of 2024, Aspargo Labs sold 20.9 million shares at $0.87 per share.
Aspargo is focused on developing proprietary oral liquid suspension formulations of leading oral solid dose prescription and over-the-counter (OTC) medications. Its first commercial product, Sildenafil Oral Suspension, indicated for the treatment of erectile dysfunction, is an oral liquid suspension formulation of sildenafil citrate, the active pharmaceutical ingredient contained in Viagra, administered through a metered dose container closure system consisting of a 30 ml bottle and mechanical pump. The company markets Sildenafil Oral Suspension in Spain under the brand name Bandol, and in Germany and the UK under the brand name Hezkue, though it has generated limited revenues to date. Sildenafil Oral Suspension is undergoing the approval process in the US.
The New York, NY-based company was founded in 2019 and plans to list on the NYSE under the symbol AAGO. Aspargo Labs filed confidentially on May 14, 2024. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Oppenheimer & Co. will serve as a financial advisor.
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