US Stock Movers | Apnimed (APMD.US), a developer of sleep apnea medications, debuts on the US stock market with shares opening up more than 11%

According to Jinse Finance APP, on Friday, Apnimed (APMD.US), an American biotechnology company specializing in the treatment of obstructive sleep apnea, debuted on the US stock market with its opening price rising more than 11% to $17.79. The IPO price was $16. Apnimed is currently developing an oral drug called Oxnimbi for the treatment of obstructive sleep apnea. The company submitted a marketing application to the US Food and Drug Administration (FDA) in April this year, with a regulatory review period expected to be about 10 months. If approved, Oxnimbi will become one of the few drugs on the market to treat sleep apnea, following Eli Lilly's (LLY.US) weight loss drug Zepbound, and will compete with it.