Biopharmaceutical company Curanex (CURX.US) has an IPO price of 4-6 US dollars/share and plans to raise $10 million

Zhitongcaijing · 10/17 07:41

The Zhitong Finance App learned that Curanex Pharmaceuticals (CURX.US), a preclinical biopharmaceutical company that focuses on developing drugs to treat various diseases from plants, submitted an initial public offering (IPO) application to the US Securities and Exchange Commission this Wednesday with the aim of raising up to 10 million US dollars. The company plans to issue 2 million shares at a price of $4 to $6 each, and is expected to have a fully diluted market capitalization of around $210 million.

Curanex's core product is Phyto-N, a proprietary botanical extract with enhanced anti-inflammatory properties. The active ingredients of the drug are derived from traditional Chinese medicine, and the company plans to submit a New Drug Clinical Trial Application (IND) in 2025 to begin clinical trials of Phyto-N. In addition to the main indications, Curanex plans to explore Phyto-N's potential in multiple treatment areas such as atopic dermatitis, diabetes, non-alcoholic fatty liver disease (NAFLD), gout, and acne.

Founded in 2018 and headquartered in Jericho, NY, Curanex plans to list on the NASDAQ under the ticker symbol CURX. The joint bookkeepers of this IPO are Dominari Securities and Rever Securities.