Alcobra Ltd. Lists Shares on NASDAQ - Video Summary on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - May 31, 2013) - Alcobra Ltd. (NASD: ADHD) is the latest new listing on NASDAQ, and will trade under the symbol ADHD. The company completed an IPO offering of 3,125,000 shares at US$8.00, raising US$25 million in gross proceeds. The company now has 11,130,000 shares outstanding.
Aegis Capital Corp. acted as sole book-running manager, with Sunrise Securities Corp. and Feltl & Company as co-managers.
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Tel Aviv, Israel-based Alcobra, is an emerging biopharmaceutical company primarily focused on the development and commercialization of a proprietary drug, MG01CI, to treat Attention Deficit Hyperactivity Disorder or ADHD. ADHD is one of the most common behavioral disorders in the world, and it is estimated that between 5% and 12% of children worldwide are affected by this condition.
Once believed to only affect children, ADHD is now known to persist into adolescence and adulthood in a large number of cases, with approximately 46% of all adults who had ADHD is children continuing to have symptoms of the disorder as adults. ADHD is currently treated with therapeutic, stimulant drugs such as Ritalin, which have numerous side effects, such as uncomfortable mental states, interference with sleep and appetite, development of nervous ticks and potential cardiovascular effects resulting from increased blood pressure..
In September 2011, Alcobra completed a 120-patient double-blind Phase II study that demonstrated that the company's MG01CI drug provided a well-tolerated, immediate and effective treatment.
The company's objective is to develop and commercialize proprietary pharmaceutical products for treatment of central nervous system disorders, and cognitive dysfunctions in particular. The company plans to conduct additional clinical trials, and if those trials are successful, seek marketing approval from the U.S. Food and Drug Administration, or FDA, and other worldwide regulatory bodies for the treatment of ADHD in adults and children. Alcobra also intends to develop additional products they have invented or that they may acquire.
For more information about Alcobra, please visit the company's website www.alcobra-pharma.com.
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