Westlake Village’s Sienna Biopharmaceuticals Inc. filed for a $74.8 million initial public offering on Monday, according to a filing with the Securities and Exchange Commission.
The company develops prescription dermatology products, all of which are still in clinical-stage trials. With no products on the market, Sienna lost $21.2 million in 2016 and $11.3 million in 2015, according to the filing. The company lost $10.1 million in the first three months of 2017 compared to a loss of $3.8 in the first quarter of 2016, a year-to-year increase of 166 percent.
Sienna has two main product categories. One is focused on treating psoriasis and other itchy skin ailments, while the other focuses on acne treatments and the reduction of unwanted, light-pigmented hair.
The company’s largest stakeholder is Chicago’s Arch Venture Partners, which holds a 23.4 percent stake. Partner Fund Management and Fidelity Investments own 9.5 percent and 6.6 percent, respectively, making them the second- and third-largest shareholders, according to the SEC filing.
Deals & Dealmakers reporter Henry Meier can be reached at firstname.lastname@example.org. Follow him on Twitter @henry_meier.