The Startup Behind The Pill For Sleep Apnea Raises $192 Million In IPO

Apnimed priced its upsized IPO at $16 a share, raising $192 million and set to begin trading on Nasdaq.

The Cambridge biotech is developing a once-nightly pill for sleep apnea and is moving ahead before FDA approval.

Apnimed has already raised about $260 million from investors and sold its stake in a joint venture to focus on the drug.

A successful pill could offer a more acceptable alternative to CPAP and expand treatment for millions with sleep apnea.