Apnimed Closes Upsized IPO, Raises $220.8M Gross

Apnimed, Inc. announced the closing of its upsized initial public offering, including the full exercise of the underwriters' overallotment option. The company sold an aggregate of 13,800,000 shares of common stock at an initial public offering price of $16.00 per share, generating gross proceeds of $220.8 million. Apnimed's common stock began trading on the Nasdaq Global Select Market under the ticker "APMD" on July 31, 2026. The company is a late-stage clinical pharmaceutical company focused on sleep-related breathing diseases, with its product candidate AD109 having a PDUFA goal date of February 28, 2027.