Is Paxmedica (pxmd) Stock The Next Hot Ipo?

Is Paxmedica (pxmd) Stock The Next Hot Ipo? – PaxMedica (PXMD) is looking to raise $18 million in an IPO of its common stock, according to an S-1 filing.

The company is developing different forms of suramin for autism, Fragile X syndrome, African sleeping sickness and other neurodevelopmental indications.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

PXMD appears to be underfunded and conducting a Phase 2b trial in South Africa for its lead candidate.

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Woodcliff Lake, New Jersey-based PaxMedica was founded to advance programs based on anti-purinergic therapies for neurodevelopmental disorders such as autism spectrum disorder [ASD] and Fragile X tremor-ataxia syndrome.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

Management is led by CEO Mr. Howard Weisman, who has been with the company since March 2020 and was previously the founder and Executive Chairman of Sofregen, a clinical-grade biomedical device company in the plastic surgery industry.

The company’s lead candidate, PAX-101, is a suramin intravenous formulation being developed for autism, Fragile X and Human African Trypanosomiasis [HAT].

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

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PAX-101 is now 60% complete with patient enrollment in a Phase 2b trial in South Africa for the treatment of ASD, with an expected completion date of late 2020 and data readout in “early 2021”.

PXMD believes it can obtain regulatory approval for HAT, then monetize it by obtaining FDA priority study vouchers to support its other demonstration programs.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

According to Market Research’s 2018 market research report, the global autism spectrum disorder [ASD] market was valued at $5.1 billion in 2016.

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The main factors driving this expected growth are the continued increase in the incidence of neurodevelopmental disorders and increasing government support and approval of various off-label treatment concepts by the FDA.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

However, the market faces a small pipeline of drugs due to the “unknown etiology and pathophysiology of ASD”.

PaxMedica’s latest financial results show that the company generated no revenue and had little G&A and R&D expenses related to development activities.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

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As of March 31, 2020, the company had $249,804 in cash and $217,114 in cash. (Unconfirmed, temporarily)

PaxMedica is looking to raise $18 million in IPO proceeds for its common stock, although the final amount may vary.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

No existing shareholders have expressed interest in buying shares at the IPO price, although this could be a sign of an IPO if disclosed in future filings.

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We currently expect to use the proceeds of this offering for product development activities, including clinical research and the management and development of our product candidates, as well as the remainder for working capital and other general business purposes, including the payment of accrued but unpaid salaries and related expenses. operates as a public company. Based on our current estimates, we believe that the net proceeds from this offering will fund our operations by the end of the second fiscal quarter of 2022. At that time, we expect that the remaining funds from this offering will support (i) the acceptance of the NDA. Approval (and possible PRV awards for tropical disease) for HAT indications, and (ii) submission of IND applications for ASD and FXTAS indications.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

Management believes there is a high probability of approval for the HAT indication, which could then generate additional funding for the development of the ASD and FXTAS brands.

Even if it is a fair estimate, while the IPO is running the company’s business for 18 months or more.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

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The market opportunity for treating ASD conditions is huge and is expected to grow at a moderate pace in the coming years.

The investment syndicate of this company includes TardiMed Sciences, a type of scientific incubation company / accelerator with a small portfolio and no clear track record.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

The Benchmark Company is a large left-wing insurer and IPOs led by the company in the past 12 months have generated a negative average return (40.7%) since its IPO. This was the lowest performance of all major insurers at the time.

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(I do not have a position in any of the stocks mentioned as of the date of the article, I do not plan to start any positions in the next 48 hours, and I have no business relationship with any companies whose stocks are mentioned in this article. Note. IPO stocks can be very volatile in the days immediately following the IPO. Information provided (it is for educational purposes only, may contain errors, be incomplete or out of date, and does not constitute financial, legal or investment advice.)

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

To receive automatic notifications of new IPO activity, click the “+ Follow” link on the right side of the page. PaxMedica (NASDAQ: PXMD ​​) intends to raise about $8.5 million in the sale of its common stock in an IPO, according to an accompanying registration statement.

Woodcliff Lake, New Jersey-based PaxMedica was founded to advance programs based on anti-purinergic therapies in East African HAT and psychiatric disorders such as autism spectrum disorder (ASD) and Fragile X tremor-ataxia syndrome.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

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Management is led by CEO Mr. Howard Weisman, who has been with the company since March 2020 and was previously the founder and Executive Chairman of Sofregen, a clinical-grade biomedical device company in the plastic surgery industry.

The company’s lead candidate, PAX-101, is an intravenous suramin regimen designed for autism, Fragile X and Human African Trypanosomiasis (HAT).

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

PXMD believes it can obtain regulatory approval for HAT, then monetize it by obtaining FDA priority study vouchers to support its other demonstration programs.

Initial Public Offering (ipo)

According to a 2018 market research report by Future Market Research, the autism spectrum disorder (ASD) treatment market was valued at $5.1 billion in 2016.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

The main factors driving this expected growth are the continued increase in the incidence of neurodevelopmental disorders and increasing government support and approval of various off-label treatment concepts by the FDA.

However, the market faces a small pipeline of drugs due to the “unknown etiology and pathophysiology of ASD”.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

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The administration states that “there is no known cure for ASD, and there are no medications approved by the FDA to treat the main symptoms of ASD.”

PXMD’s recent financial results are typical of a development-stage biopharma company as they reflect significant R&D and G&A expenses related to drug candidate development activities.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

As of March 31, 2022, the company had $49,383 in cash and $8.6 million in total debt. (Unconfirmed, temporarily)

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PXMD plans to sell 1.5 million shares of common stock at a proposed price of $5.50 per share for gross proceeds of approximately $8.5 million, excluding the sale of options to the common underwriters.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

Assuming a successful IPO in the middle of the proposed price range, the company’s enterprise value at the IPO (without the underwriter’s option) would be estimated at $72 million.

The ratio of float and shares outstanding (excluding warrant options) is approximately 10.62%. Figures below 10% are generally considered “low float” stocks, which can be subject to significant price changes.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

Ipo Update: Paxmedica Files For $15 Million Ipo (nasdaq:pxmd)

Approximately $2.5 million in drug procurement and supply operations; approximately $2.5 million for clinical and regulatory development activities related to HAT, ASD, ME/CFS and LCS indications; up to $50,000 to repay amounts outstanding under the 2022 Notes that are not subject to the 2022 Convertible Notes Agreement, up to a fixed amount; and approximately $2.0 million for working capital and general business purposes. (Source-SEC)

PaxMedica is seeking a small IPO to advance its candidate PAX-101 through multi-indication trials. It previously sought an IPO deal of $15 million by mid-2020.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

For the lead candidate, regulatory plans to obtain US FDA marketing approval. in the treatment of HAT in East Africa and then used that permission to expand the scope of treatment to ASD, ME/CFS and LCS.

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The market opportunity for the various conditions covered by the drug candidate is large, but the signs of growth are unknown.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

The company has not announced any research or commercial partnerships, and it is not an “exclusive” method at this time.

Craft Capital Management is the leading investor, and there is no data on the company’s IPO involvement in the past 12 months.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

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In terms of valuation, management is asking IPO investors to consider a business value of about $72 million, which is higher than the previous IPO bid of $59 million.

Now, as in previous IPOs, the company is valued at a much lower price than is typical for a biopharma company in an IPO.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

In addition, the company still has very little capital, although it appears to have progressed in its early testing activities.

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I am the founder of IPO Edge in Seeking Alpha, a research service for investors interested in IPOs in the US market. Subscribers get access to my research, ratings, data, commentary, opinions and discussions about US IPOs. Join now to get the inside “edge” on new products coming to market, before and after the IPO. Get started with a free 14-day trial.

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

Disclosure: I/We do not own stock, options or similar positions in any of the companies mentioned, and there are no plans to initiate such positions in the next 72 hours. I wrote this article myself, and it expresses my opinion. I received no compensation for it (other than seeking Alpha). I have no business relationship with any of the companies that have shares mentioned in this article.

Additional statement: This report is intended for educational purposes only and

Is Paxmedica (pxmd) Stock The Next Hot Ipo?

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