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US IPO Week Ahead: Oncology biotech and drone maker set to debut

March 8, 2024
Week Ahead

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
Deal Size
Market Cap
Price Range
Shares Filed
NeOnc Technologies (NTHI)
Westlake Village, CA
$11.25 - $13.75
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.