- Type: IPO
- Total Round Size (min): AUD$2,000
- Total Round Size (max): AUD$100,000
- Price per share: AUD$0.2
- Lead manager: Alpine Capital Pty Ltd
LTR Pharma Limited (ASX:LTP)
LTR Pharma's IPO will be closing on Friday 24th November - Equitise will close their allocation at 5pm on the 16th November.
LTR Pharma operates in Brisbane, Queensland with the company's core focus to look to improve men's health both physically and mentally.
The company's candidate product, SPONTAN is set apart from existing therapies by its mechanism of action, a unique intranasal delivery technology for the treatment of Erectile Dysfunction (ED).
Raising $6m to $7m through the IPO, with their most imminent priority to execute a bioequivalence trial of SPONTAN® to enable LTP to seek these expedited regulatory approvals in order to ultimately sell and market SPONTAN® (initially) in the United States and Australia.
LTP is a drug development, research and repurposing company, focused on men’s health and, currently commercialising a 'first-in-class' rapid onset, on-demand therapeutic nasal spray for the treatment of ED.
LTP is currently focused on changing the method of administration of an existing and approved drug that is already on market for the treatment of ED called Vardenafil, also known by the brand names Levitra® and Staxyn®. LTP is preparing to launch SPONTAN®, which is based on an intranasal Vardenafil formulation, SDS-089, by undertaking a bioequivalence trial.
The market for LTP's proposed nasal delivery product is large given the potential benefit to the patients. It is estimated that around 46% of people using existing oral medications for the treatment of ED stop or discontinue their use because of the inconvenience of the delayed onset of action or no effect at all during the desired timeframe. As such, LTP’s new nasal delivery product is seeking to offer an ED treatment to patients looking for a more rapid onset of effect than existing ED treatments, taking advantage of the growing market opportunity.
Key Offer Statistics
You are encouraged to carefully read and consider the attached prospectus for the offer. The Company and any associated investment carry a number of key risks that are detailed in Section 3.B of the prospectus.
The issuer making this offer is LTR Pharma LTD. A person should consider the prospectus in deciding whether to acquire securities. Anyone who wants to acquire securities will need to complete the application form that will be in or accompany the prospectus on the Equitise platform.
This offer is being made by Equitise (CAR) Pty Ltd as Corporate Authorised Representative of Red Leaf Securities Pty Ltd (ACN 606 000 800) (AFSL 510097).