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Gemphire CEO Sooch: IPO Funds Will Fuel Research, Staffing

Wednesday, September 14, 2016   (0 Comments)
Posted by: Kate Oesterle
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On Aug. 5, after a six-week delay caused by market uncertainty over the United Kingdom's vote to exit the European Union, Gemphire Therapeutics Inc., which has licensed a cardiovascular drug called Gemcabene from Pfizer Inc., had a public offering of $30 million and began trading on the Nasdaq Global Market under the symbol GEMP. That was considerably less than the $60 million the company first mentioned in regulatory filings in April and less than the target of $45 million set for the first IPO date in June.

Company President and CEO Mina Sooch, named in June by Crain's as one of the 100 most influential women in Michigan, talked about what's next for the company. She talked from Gemphire's spacious new offices in Laurel Park in Livonia, having moved out of cramped space in Northville.

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