US Stock Market Move | Apnimed (APMD.US), a developer of sleep apnea medications, has listed on the US stock market, with the opening stock price rising over 11%.

On Friday, the American biotechnology company Apnimed (APMD.US), which focuses on the treatment of obstructive sleep apnea, made its debut on the U.S. stock market, with its stock price rising over 11% at the opening to $17.79. The IPO price was $16. Apnimed is currently developing an oral medication, Oxnimbi, for the treatment of obstructive sleep apnea. The company submitted its application for market approval to the U.S. Food and Drug Administration (FDA) in April this year, with an expected regulatory approval timeline of approximately 10 months. If approved, Oxnimbi will become one of the few medications approved for the treatment of sleep apnea after Eli Lilly's (LLY.US) weight loss drug Zepbound and will compete with it in the market.