Apnimed priced an upsized $192 million IPO to fund its obstructive sleep apnea therapy Oxnimbi (AD109), as the program moves toward an FDA decision expected by February 2027. The company increased the offering size to 12 million shares at the top of its $14 to $16 range, following two phase 3 trials in which the daily pill reduced nightly breath-stopping events and aims to become the first prescription drug designed specifically for adult sleep apnea.