IPO Outlook: ALPX, BMR, ASPI, INTS, PRME

By Duncan Ferris

Share:

The coming week's IPOs could include offerings from Alopexx (NASDAQ: ALPX), Beamr Imaging (NASDAQ: BMR), ASP Isotopes (NASDAQ: ASPI), Intensity Therapeutics (NASDAQ: INTS) and Prime Medicine (NASDAQ: PRME).

Here are some of the IPOs slated for the week ahead: 

Alopexx (NASDAQ: ALPX)

This company is joining the NASDAQ with a listing of 3 million shares. Based on the assumed IPO price of $5.00 per share, the company estimates that it will receive net proceeds from the offering of approximately $12.3m.

It's also worth noting that, upon completion of the offering, Alopexx President and CEO Daniel Vlock will hold a majority of the voting power of the company's capital stock through his ownership of 52% of outstanding common stock.

What Does Alopexx Do?

Alopexx is a clinical stage biotechnology company developing novel immune therapeutics for the prevention, treatment and mitigation of bacterial, fungal, and parasitic infections that express the antigenic target poly N-acetyl glucosamine (PNAG).

That target has been found on an expanding number of pathogens, and the company's management believes that the broad-spectrum potential of its therapeutics will allow them to be used for the prevention, treatment and mitigation of a wide range of infections.

Examples of the progress achieved by Alopexx's therapeutics can be seen with the business' vaccine candidate, AV0328. The treatment's first-in-man trial showed it to be well tolerated with no serious adverse events observed, while it also induced protective antibodies against all PNAG-expressing pathogens tested.

The company believes this vaccine's broad-spectrum potential will allow it to be used for the long-term prevention of a wide range of infections, including pneumococcal pneumonia, methicillin-resistant Staphylococcus aureus (MRSA), meningitis, and sexually transmitted diseases. 

Who is Leading the ALPX IPO?

The company's public listing is being headed by ThinkEquity.

Use of ALPX IPO Proceeds

The company has indicated it will use the IPO proceeds for:

  • Around $5.5m to initiate a proof-of-concept trial of vaccine AV0328, including manufacturing, and correlative laboratory studies.

  • Approximately $4.5m to initiate a proof-of-concept trial of monoclonal antibody therapeutic in ICU patients.

  • The remainder for general corporate purposes, including working capital, operating expenses and capital expenditures.

Beamr Imaging (NASDAQ: BMR)

Beamr Imaging is joining the public market with a placing of 3 million shares. The company has said it expects these shares to have an initial public offering price of $5.00 each, leaving the business anticipating gross proceeds of around $15m.

What Does Beamr Imaging Do?

Beamr is a video technology and image science software company. The business says its solutions and technologies are backed by 51 International granted patents, with these allowing the business expertise in video encoding, transcoding and optimization software solutions for live and video-on-demand services.

Founded in 2009 by a team of image science experts, Beamr is backed by Verizon, Innovation Endeavors, and Disruptive. Meanwhile, the company's enterprise customers include big names like Netflix (NASDAQ: NFLX), Snapfish, ViacomCBS, Wowza and Microsoft (NASDAQ: MSFT).

Additionally, it is worth noting that the business is currently collaborating with Nvidia (NASDAQ: NVDA) to develop the world's first GPU accelerated encoding solution. Beamr says this would allow fast and easy end-user deployment combined with superior video compression rates.

Who is Leading the BMR IPO?

Beamr Imaging's listing is being headed by ThinkEquity.

Use of BMR IPO Proceeds

Beamr says it currently expects to use the net proceeds from this offering for the following purposes:

  • Roughly $4.7m for research and development efforts.

  • $2.7m for sales and marketing activities.

  • Around $2.7m for cloud operating costs.

  • Approximately $3m for general and administrative corporate purposes, including working capital and capital expenditures.

ASP Isotopes (NASDAQ: ASPI)

This business is joining the NASDAQ with 2 million shares of common stock, which the company expects will have an initial share price of between $5 and $7 each.

What Does ASP Isotopes Do?

ASP is a pre-commercial stage advanced materials company dedicated to the development of technology and processes that, if successful, will allow for the production of isotopes that may be used in several industries.

The company’s initial focus is on the production and commercialization of enriched Molybdenum-100 (Mo-100). 

Klydon Proprietary Ltd, which originally developed and exclusively licensed the technology used by ASP, has agreed to provide the business with a first commercial-scale Mo-100 enrichment plant located in South Africa with a manufacturing capacity of 20 kg/year of 95% enriched Mo-100 when fully operational.

ASP says it believes that the Mo-100 it may develop has significant potential advantages for use in the preparation of nuclear imaging agents by radiopharmacies and others in the medical industry.

Who is Leading the ASPI IPO?

Revere Securities LLC will act as book running manager for ASP Isotopes’ IPO.

Use of ASPI IPO Proceeds

ASP Isotopes says that the principal purpose of this offering is to increase its capitalization and financial flexibility, create a public market for its common stock and enable access to the public equity markets for the business and its stockholders.

Beyond this, the business intends to use a portion of the net proceeds to expand production to up to 20 kg/year of 95% enriched Mo-100.

The remainder of the net proceeds will be used for research and development for potential additional isotopes that the business may seek to offer in the future, as well as headcount costs, working capital and other general corporate purposes.

Intensity Therapeutics (NASDAQ: INTS)

Intensity Therapeutics (NASDAQ: INTS) is offering 2,222,223 shares of its common stock, with an expected price per share of between $4 and $5. Additionally, the offering’s underwriters have an option to purchase up to 333,333 additional shares of common stock at the initial public offering price less the underwriting discounts and commissions.

What Does Intensity Therapeutics Do?

Intensity Therapeutics is a clinical stage biotechnology company committed to the field of localized cancer reduction leading to anti-cancer immune activation. The company’s approach involves the direct injection into tumors of a unique product created from its DfuseRx℠ discovery platform.

The company’s lead product candidate, INT230-6, consists of two proven anti-cancer cytotoxic agents, cisplatin and vinblastine sulfate, mixed with the amphiphilic molecule (SHAO), all in a single vial.

Who is Leading the INTS IPO?

The listing’s joint book running managers are Roth Capital Partners and The Benchmark Company.

Use of INTS IPO Proceeds

The company says it intends to use the net proceeds from this offering for the following purposes:

  • Around 25% toward initiating/conducting a Phase 3 sarcoma and/or Phase 2/3 early-stage breast cancer studies (IT-03 and IT-04).

  • Approximately 35% toward current clinical trials and related operations.

  • Roughly 5% toward development of the company’s second product candidate, INT33X.

  • Approximately 35% toward general corporate purposes and working capital.

Prime Medicine (NASDAQ: PRME)

This business is offering 8.9 million shares of its common stock for an expected price of between $16 and $18 each.

What Does Prime Medicine Do?

Prime Medicine is a biotechnology company which is seeking to deliver a new class of differentiated one-time curative genetic therapies, which it dubs Prime Editors, to address a wide spectrum of diseases.

The company acts on the belief that the ability to alter the human genome at the foundational level may confer the greatest therapeutic impact on human disease. Even so, it’s worth noting that gene editing, including platforms such as Prime Editing, is a novel technology that is not yet clinically validated for human therapeutic use.

The company says its in-licensed and company-owned Prime Editing technology has transformative potential that could change the course of how disease is treated and overcome the challenges associated with current genetic therapies.

Who is Leading the PRME IPO?

This IPO sees JPMorgan Securities LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Jefferies LLC acting as joint book-running managers.

Use of PRME IPO Proceeds

The company intends to use the proceeds for the following purposes:

• Approximately $90m for continued research and development of its Prime Editing portfolio.

• Around $65m for IND-enabling studies and other clinical studies.

• Another $65m for continued advancement of the Prime Editing platform and discovery-stage research for other potential programs.

• $50m to develop early-stage manufacturing processes and build out a dedicated chemistry facility.

• The remainder for general corporate purposes.

Want to learn more about biotechnology? Read our Life Sciences analysis and find out if you should invest!

Share:

In this article:

Topics:
IPO
Biotechnology
Uranium
Industries:
Healthcare
Materials

Author: Duncan Ferris

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Duncan Ferris does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Duncan Ferris has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of ValueTheMarkets.com, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of ValueTheMarkets.com, has not been paid for the production of this piece by the company or companies mentioned above.

Sign up for VTM Updates

Form submitted successfully!

VTM Exclusive Reports

Crypto Corner

Learn your NFTs from your BTCs