Zosano Pharma S-1 Analysis

Zosano Pharma Basic Info

Exchange: NASDAQ

Proposed Symbol: ZSAN

State of Inc: DE

Employees: 29

CEO: Vikram Lamba

IPO Date: 1/28/15

Price Range: $10-12

Shares offered: 3 mm

Offer Amount: $41.4 mm

Description from S-1: “We are a clinical stage specialty pharmaceutical company that has developed a proprietary transdermal microneedle patch system to deliver our proprietary formulations of existing drugs through the skin for the treatment of a variety of indications. Our microneedle patch system offers rapid onset, consistent drug delivery, improved ease of use and room-temperature stability, benefits that we believe often are unavailable using oral formulations or injections. Our microneedle patch system has the potential to deliver numerous medications for a wide variety of indications in commercially attractive markets. By focusing our development efforts on the delivery of established molecules with known safety and efficacy and premium pricing, we plan to reduce our clinical and regulatory risk and development costs and accelerate our time to commercialization.”

From the S-1

Underwriters:

  • Lead Underwriters: Ladenburg Thalmann and Co. Inc, Roth Capital Partners, Wedbush Securities Inc

2014 Sales: $2.4813 mm

Total Assets: $15.55 mm

Competitors: Amgen, Lilly, Biodel, Radius, Xeris, Zogenix, GlaskoSmithKline, AstraZeneca.

Other Notes

  • Spun out of Johnson & Johnson in 2006
  • Raised more than $140 million in funding since its inception.
  • Biggest shareholders:
    • BioMed Realty (43.5 percent)
    • New Enterprise Associates (38.75 percent)
    • Eli Lilly (20.89 percent).
  • Zosano is developing a transdermal delivery system to treat osteoporosis
    • basically, they are making a patch to treat osteoporosis
  • Based in Fremont, CA.
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