Two listings are currently scheduled for the week ahead, although one is excluded from our IPO stats. Other issuers may join the calendar throughout the week.
Phase 2 brain cancer biotech NeOnc Technologies (NTHI) plans to raise $75 million at a $315 million market cap. Its most advanced candidate, NEO100, is a purified form of perillyl acid which is administered to brain cancer patients via intranasal delivery. The company is currently conducting two Phase 2a trials of NEO100, and expects a readout for the two studies by the end of 2024. It also has a second candidate in a Phase 1/2 trial as an oral therapy.
While not included in our IPO stats, Dutch drone maker RanMarine Technology (RAN) plans to raise $8 million in a unit offering at a $61 million market cap. The company designs, manufactures, and sells aquatic drones focused on harvesting harmful plastic pollutants, algae, biomass, and oils from water, and collecting water quality data.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| NeOnc Technologies (NTHI) Westlake Village, CA | $75M $315M | $11.25 - $13.75 6,000,000 | Loop Capital |
| Phase 2 biotech developing intranasal and oral therapies for brain cancer. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 3/7/2024, the Renaissance IPO Index was up 6.6% year-to-date, while the S&P 500 was up 8.4%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Coinbase Global (COIN) and Kenvue (KVUE). The Renaissance International IPO Index was down 3.2% year-to-date, while the ACWX was up 3.8%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Wise and Porsche.
