initial public offerings (IPOs) trading on American exchanges

Friday, September 13, 2019

Satsuma Pharma (STSA) began trading on the Nasdaq on Fri 13 Sept 2019

Headquarters: South San Francisco, CA
Founded: 2016

Founded in June 2016, Satsuma is a clinical-stage biopharma company developing a novel therapeutic product for the acute treatment of migraines.
Its product candidate STS101 is a drug-device combination of a proprietary dry powder formulation of dihydroergotamine mesylate, or DHE, for quick and easy administration using a pre-filled, single-use, nasal delivery device.
Although DHE products have already been used for the acute treatment of migraines, widespread usage is constrained by invasive and burdensome administration and/or suboptimal clinical performance of available injectable and liquid nasal spray products.
A Phase 1 study of STS101 has been completed, with data from the trial showing rapid and sustained DHE plasma concentrations, low pharmacokinetic variability and a favorable safety and tolerability profile.
Recently, the company initiated a Phase 3 study dubbed EMERGE. Top-line data from the trial is expected in the second half of 2020.
"It has been estimated that migraine results in up to $36 billion in healthcare and lost productivity costs and up to 157 million lost workdays annually in the United States," Satsuma said in the filing, highlighting the market opportunity for its pipeline asset.
The Finances
Satsuma has yet to post revenue. The company reported a loss of $7.35 million for 2018 compared to a loss of $5.17 million in 2017. For the six moths ended June 30, the company's loss ballooned from $3.42 million to $9.11 million.

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