Just one company is currently scheduled to list in the week ahead, although other small issuers may join the calendar during the week.
Holdover Azitra (AZTR) may raise $12 million at a $70 million market cap. The biotech’s pipeline is led by a genetically modified strain of bacteria targeting orphan disease Netherton syndrome. Azitra’s lead candidate is expected to enter a Phase 1b trial in the 1H23, and the company has a joint development agreement with Bayer to develop bacterial microbes for consumer and cosmetic products.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Azitra (AZTR) Branford, CT | $12M $70M | $4.50 - $5.50 2,400,000 | ThinkEquity |
| Phase 1-ready dermatology biotech developing engineered bacterial therapies. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/1/2023, the Renaissance IPO Index was up 22.4% year-to-date, while the S&P 500 was up 10.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Airbnb (ABNB). The Renaissance International IPO Index was down 8.5% year-to-date, while the ACWX was up 6.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Porsche and Kuaishou.
