Apnimed prices IPO at $16 per share, raising $192 million

Apnimed, Inc., a Cambridge, Massachusetts-based clinical-stage pharmaceutical company, has priced its initial public offering of 12 million shares of common stock at $16.00 per share, according to a press release issued July 30, 2026.

The company expects to raise $192 million in gross proceeds before deducting underwriting discounts, commissions, and offering expenses. Apnimed has also granted underwriters a 30-day option to purchase up to an additional 1.8 million shares at the IPO price.

Apnimed common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol NASDAQ: APMD on July 31, 2026, with the offering expected to close on or about August 3, 2026, subject to customary closing conditions.

BofA Securities, Evercore ISI, Cantor, and LifeSci Capital are acting as joint book-running managers for the offering.

Apnimed is developing oral therapies targeting sleep-related breathing diseases. Its lead product candidate, AD109, is designed to improve oxygenation in people with obstructive sleep apnea and has completed two Phase 3 clinical trials. The company's New Drug Application for AD109 has been assigned a Prescription Drug User Fee Act goal date of February 28, 2027.

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