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Sunday, November 8, 2020

US IPO Week Ahead: Biotechs break the post-election ice

The US IPO market remains relatively quiet following election week, with just two IPOs and one SPAC scheduled to raise $290 million in the week ahead.

Oncology biotech IN8bio (INAB) plans to raise $75 million at a $325 million market cap. IN8bio is focused on developing cancer therapies by employing allogeneic, autologous and genetically modified gamma-delta T cells. The company’s lead candidates, INB-200 and INB-100, are targeting glioblastoma and a subset of patients with leukemia. Both are in Phase 1 trials, with topline data expected in 2021 and 2022, respectively.

Clinical stage biotech Inhibikase Therapeutics (IKT), which is developing kinase inhibitors for Parkinson's (PD) and related disorders, plans to raise $15 million at a $142 million market cap. Its lead candidate, IkT-148009, is being developed for PD and related disorders that arise inside and outside the brain. Inhibikase has filed two INDs for IkT-148009 and expects to begin the first dosing of patients shortly after the IPO.

Sustainable food-focused SPAC Natural Order Acquisition (NOACU) plans to raise $200 million. The company is led by Chairman Sebastiano Castiglioni, who is a Partner at Blue Horizon Group, and CEO Paresh Patel, who manages his private investment office Sandstone Investments.

U.S. IPO Calendar
Issuer
Business
Deal Size
Market Cap
Price Range
Shares Filed
Top
Bookrunners
Inhibikase Therapeutics (IKT)
Atlanta, GA
$15M
$142M
$10 - $12
1,363,636
ThinkEquity
Clinical stage biotech developing kinase inhibitors for Parkinson's and related disorders.
Natural Order Acquisition (NOACU)
Weston, MA
$200M
$250M
$10
20,000,000
Chardan
Barclays
Blank check company focusing on technologies and products related to sustainable plant-based food and beverages.
IN8bio (INAB)
New York, NY
$75M
$325M
$15 - $17
4,687,500
Barclays
Cantor Fitz.
Phase 1 oncology biotech developing allogeneic gamma-delta T cell therapies.

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