Yeah, the darned website has been down for a few days ... can't figure out why.
Fairly recent IPO ... based on valuation, I started buying it.
•FOMX, a specialty pharmaceutical company seeking to develop treatments for skin conditions, plans to raise $65.0 million in its upcoming IPO.
•The Rehovot, Israel-based firm posted extremely promising results of FOMX's Phase II trial of product FMX101.
•The U.S. market for branded prescription acne drugs alone for the twelve months ended March 31, 2014 has been estimated at $2.6 billion.
•We are optimistic that FOMX might capture a strong market share and have a successful IPO.
Foamix Pharmaceuticals Ltd. (Pending:FOMX), a specialty pharmaceutical company seeking to develop treatments for skin conditions, plans to raise $65.0 million in its upcoming IPO.
The Rehovot, Israel-based firm will offer 5.9 million shares at an expected price range of $10-$12 per share. If the IPO hits the midpoint of that range at $11 per share, FOMX will command a market value of $261 million
FOMX filed on August 13, 2014
Lead Underwriters: Barclays Capital Inc; Cowen and Company, LLC
Underwriters: Maxim Group, LLC; Oppenheimer and Co., Inc
Summary: Strong, Diverse Pipeline For Skin Condition Treatments
FOMX is a clinical-stage pharmaceutical firm engaged in the development and commercialization of treatments for skin conditions. The firm's two lead product candidates, FMX101 and FMX102, are both topical foam formulations of minocycline, a antibiotic commonly used in the treatment of acne and other skin infections as well as pneumonia and other infections. FMX101 is currently in development to treat moderate-to-severe acne, while FMX102 is being developed for the treatment of impetigo, a highly contagious skin infection that typically affects children and infants.
FOMX has completed Phase II clinical trials of each of these product candidates; based on the results of the trial of FMX101, the firm believes that its topical foam could become the standard of care for moderate-to-severe acne, as FMX101 performed more quickly and effectively than orally ingested minocycline, which is the current standard of care. FMX101 also lacks many of the systemic side effects associated with orally ingested minocycline, which include nausea, headaches, and severe itchiness, as well as several uncommon but far more severe side effects. FMX102's Phase II trial also produced promising results, though it would be one of many options for impetigo treatment if it received FDA approval. FOMX plans to initiate pivotal Phase III studies of both FMX101 and FMX102 in 2015.
FOMX has already generated some revenues through its proprietary foam-based platforms, which it has used to develop FMX101 and FMX102. The firm has entered into licensing and development agreements with firms such as Bayer AG, Merz Pharmaceutical, and Actavis plc (NYSE:ACT) related to its technologies.
See FOMX's website for the full pipeline and current products.
FOMX offers the following figures in its F-1 balance sheet for the six months ended June 30, 2014:
Net Loss: ($3,473,000.00)
Total Assets: $11,378,000.00
Total Liabilities: $4,135,000.00
Stockholders' Equity: ($6,195,000.00)
Hot Competition From Existing Acne Treatments
Though FMX101 may represent a significant advance in the treatment of acne, the drug will still face significant competition from other acne treatments in the event that it receives FDA approval. Some of these drugs are marketed by companies with access to substantially greater financial and marketing resources than FOMX. Major potential competitors include Valeant Pharmaceuticals (NYSE:VRX), Actavis plc , and Galderma.
Management: Industry, Academic Credentials
Dov Tamarkin , Ph.D., has served as FOMX's CEO since January 2003. He previously served as Vice President of R&D at Portman Pharmaceuticals, Inc. and as Senior R&D Manager at Teva Pharmaceutical Industries Ltd. Dr. Tamarkin received a Ph.D. in chemistry from The Hebrew University of Jerusalem.
Conclusion: Investors Should Seriously Consider FOMX
We are optimistic on this IPO.
Despite a plethora of brands, acne treatments have generated huge revenues worldwide; the U.S. market for branded prescription acne drugs for the twelve months ended March 31, 2014 has been estimated at $2.6 billion.
Given the extremely promising results of FOMX's Phase II trial of FMX101, we believe that the firm has every opportunity to capture a significant share of this market.
The firm's proprietary foam delivery technologies are also intriguing, as they have already begun to generate revenue for FOMX and may allow the firm to develop many more topical treatments in the future.
Between these factors and FOMX's history of stable management, this IPO merits serious investor consideration.
Keep your eye on OSIR ... buying opps coming! But, it's so thinly traded, you will need your buys set, imo.
I'm going to put one in for $15.50-ish! Market is getting uglier by the day!!
Take a look at FOMX and see what you think ... it, too, has been holding real well all week! Appreciate your opinion!!
Frankly, we've had a lot of good pr(s) fairly recently and the market seems to yawn. We continue to consolidate at these levels. Not entirely a bad thing. I think the only thing that is going to catapult this higher will be bona fide blow out earnings and out of this world guidance! Can't wait!!
Institutions are gobbling us up!!! And, they are NOT selling any time soon!!
Well, there was a little "gamesmanship" in play there ... heading for new HOD and "someone" pulled the rug out!!
Well, YHOO page has 107 O/S now, plus the roughly 12M new shares = 119? Quite a difference between 129 and 119 - nearly 10%
Jefferies LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Griffin Securities, Inc. is acting as a co-manager for the offering.
I know market conditions have a lot to do with where/when/how you can place an offering. But with Griffin's very optimistic price target, I wonder why they had to place it at $3.75? Guess they got their friends in cheap!!!
Where did you hear 4x? Only other stock I own that did a secondary that was 4x subscribed was CEMP and, yes, it did touch the offering price, but hasn't looked back since!
FOMX? Just wondering since it is in the antibiotic space. Not new antibiotics, but new form of delivery. Very low float ... owned big by Baker Bros., and holding up very nicely in the ugly market! Been in since the $7's.
Downside is limited, but COULD happen. Set a buy lower ... leave it. This is one perplexing stock to own. It requires the patience of Job because it may not move for a long time, but things are definitely looking up behind the scenes!!!
And, Bernard ... just to get you clearly on record here and now. You sold and have no position ... waiting to enter in the low $3's? Is that correct. Because I wouldn't want you coming on here after another contract announcement telling us you actually went REAL long at $4. Call me a skeptic?