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Liver disease-focused Cirius Therapeutics files for IPO

Cirius Therapeutics Inc. filed a registration statement with the U.S. Securities and Exchange Commission to launch an IPO on the Nasdaq.

The San Diego-based clinical-stage pharmaceutical company has applied to list its common shares on the Nasdaq Global Select Market under the symbol CSTX.

Cirius Therapeutics is developing MSDC-0602K as a treatment for nonalcoholic steatohepatitis, a type of liver disease. MSDC-0602K is undergoing a phase 2 study with final data from the trial expected to be reported in the second half of 2019.

Robert Baltera Jr., the company's CEO, has served as CEO of cardiovascular-focused Laguna Pharmaceuticals Inc. and fibrosis-focused Amira Pharmaceuticals Inc. and held a number of senior management positions over 17 years at Amgen Inc.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Needham & Co. LLC and Wedbush Securities Inc. are acting as underwriters for the offering.

The company plans to give underwriters an option to buy additional shares at the initial public offering price.

Cirius Therapeutics expects to use net proceeds from the offering for working capital and other general corporate purposes, including the additional costs associated with operating as a public company.