Following the year's largest IPO to date (CRBG), four small deals may price in the week ahead, only two of which are large enough to be included in our IPO stats.
Neuro-inflammation biotech Jupiter Neurosciences (JUNS) plans to raise $15 million at a $62 million market cap. Jupiter's sole candidate, JOTROL, is being developed for various neuro and rare disease indications. JOTROL completed a Phase 1 safety and tolerability trial in March 2021 and is expected to commence Phase 2 trials in the 4Q22.
OTC-listed Loop Media (LPTV) plans to raise $12 million at a $298 million market cap. The company provides proprietary content streaming boxes to bars, hotels, and stores, through which it generates ad revenues. Fast growing and unprofitable, Loop has licenses with three major music labels.
While not counted below, two nano-caps may price in the week ahead. Infectious disease biotech Alopexx (ALPX) and laser-based system maker Laser Photonics (LASE) both plan to raise $15 million.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Loop Media (LPTV) Glendale, CA | $12M $298M | $4.50 - $5.50 2,400,000 | Roth Cap. |
| Provides ad-supported TV boxes that stream short videos at retail locations. | |||
| Jupiter Neurosciences (JUNS) Jupiter, FL | $15M $62M | $5 - $7 2,500,000 | Spartan Capital |
| Phase 1 biotech developing an oral therapy for neuro-inflammation. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 9/15/2022, the Renaissance IPO Index was down 43.1% year-to-date, while the S&P 500 was down 17.2%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Airbnb (ABNB) and Snowflake (SNOW). The Renaissance International IPO Index was down 35.9% year-to-date, while the ACWX was down 19.7%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and EQT.
