Investing.com -- Apnimed Inc. expects its initial public offering to price in the top half of the $14 to $16 marketing range, Bloomberg reported Thursday.

The sleep-related breathing disease drug developer has received demand for multiple times the available shares and has drawn large orders from long-only investors, according to the report.

The company is on track to price later Thursday, the report said.

Bank of America Corp, Evercore Inc, Cantor Fitzgerald and LifeSci Capital are working on the offering.

Shares are expected to begin trading on the Nasdaq Global Market on Friday under the symbol APMD.