Apnimed targets $608 million valuation in US Nasdaq IPO

Apnimed, a clinical‑stage biotech focused on oral treatments for obstructive sleep apnea, filed an S‑1 to raise up to $160 million by offering 10 million shares priced between $14 and $16. The company aims for a market valuation of up to $608 million and plans to list on Nasdaq under the ticker “APMD.” Proceeds will fund regulatory approval, commercial launch of its lead candidate AD109, and further research and development. Backing comes from Japanese pharmaceutical firm Shionogi & Co, while BofA Securities, Evercore ISI, Cantor and LifeSci Capital serve as underwriters. The offering reflects a broader rebound in biotech IPO activity after a decade‑long low point.