PXMD News

While August is typically a slow month for capital markets, monthly issuance reached double digits for the first time this year as 12 small IPOs raised a combined $196 million. The largest deal raised just $36 million, and the median deal size remained low at $15 million. August IPOs averaged a return of over 1,000% from offer due to a volatile uplisting that began trading on the...read more

Six small deals priced this past week, though only three met the criteria for our 2022 IPO stats. Pipeline activity picked up with three new IPO filings, including a biotech that plans to raise $150 million, as well as amendments from some notable issuers on file. Beijing-based ...read more

PaxMedica, a Phase 2 biotech developing therapies for neurodevelopmental disorders, raised $8 million by offering 1.5 million shares at $5.25, slightly below the midpoint of the $4.50 to $6.50 range. PaxMedica originally filed for an IPO in July 2020, most recently planning to raise $16 million by offering 2.5 million shares and warrants at $5.50 to $6.50. After not updating...read more

After an active week by 2022 standards, as many as four more micro-cap IPOs are scheduled to price in the third week of August. If the current market rally continues, we may see an increase in filing activity following Labor Day. Innovative Eyewear (LUCY) raised $7 million by offering 1.0 million units at the $7; it begins trading on the Nasdaq on Monday. The...read more