By Duncan Ferris


The IPOs to look out for this week include cancer treatment outfit Genelux Corporation and medicine development and AI specialist BullFrog AI.

Here are this week’s expected IPOs:

Genelux Corporation

This business is offering 2.5 million shares of its common stock through a NASDAQ listing under the symbol GNLX. Genelux says it expects that the initial public offering price will be between $6.00 and $7.00 per share.

What is Genelux Corporation?

Genelux is a clinical-stage biopharmaceutical company focused on developing a pipeline of next-generation oncolytic viral immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. 

The company’s most advanced product candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a proprietary, modified strain of the vaccinia virus (VACV), a stable DNA virus with a large engineering capacity. The company has met the preestablished endpoint for its Phase 2 clinical trial of Olvi-Vec in platinum-resistant/refractory ovarian cancer.

Additionally, the company says it has developed an extensive library of isolated and engineered oncolytic VACV immunotherapeutic product candidates through the use of its proprietary selection technology and discovery and development platform.

Who is Leading the GNLX IPO?

The listing is being led by The Benchmark Company and Brookline Capital Markets.

GNLX IPO Use of Proceeds

The business says it currently intends to use the net proceeds from the offering as follows:

  • Approximately $7.7m to fund the clinical development of its lead product candidate, Olvi-Vec, in platinum-resistant/refractory ovarian cancer.

  • Approximately $1.0m to pay outstanding accounts payable.

  • Any remaining proceeds for working capital and general corporate purposes.

BullFrog AI Holdings

This business is listing 1,317,647 units, with each of these consisting of one common stock and one warrant to purchase a share of common stock at an as-yet-unknown exercise price before expiry five years from issuance.

The company anticipates that its IPO price will be $6.375 per unit. Its stock will be listed on the NASDAQ under the BFAI ticker.

What Does BullFrog AI Do?

BullFrog AI uses artificial intelligence and machine learning to advance medicines for both internal and external projects. The company says one of the key drivers behind its approach is the fact that most new therapeutics fail at some point in their development, with high costs being a primary reason for this.

As such, the company's mission is to increase the probability of success and decrease the time and cost involved in developing therapeutics.

BullFrog says its platform technology, named bfLEAP, is an analytical Ai and machine learning platform which is able to surmount the challenges of scalability and flexibility currently hindering researchers and clinicians by providing a more precise, multi-dimensional understanding of their data. 

The business says it is deploying bfLEAP for use at several critical stages of development for internal programs and through strategic partnerships and collaborations with the intention of streamlining data analytics in therapeutics development, decreasing development costs and impacting the lives of patients that may otherwise not receive the therapies they need.

Who is Leading the BFAI IPO?

The company's IPO is being headed by Viewtrade Securities and Wallachbeth Capital.

Use of BFAI IPO Proceeds

BullFrog says it intends to use the net proceeds for investing in research and development (25%), the repayment of debt (10%) and the remainder for working capital and general corporate purposes.

Enjoyed this IPO coverage? Check out our preview of this week's earnings updates!


In this article:

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.

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