We are an early clinical stage biopharmaceutical company focused on the development and testing of our lead program, PAX-101, an intravenous formulation of suramin, in the treatment of autism spectrum disorder (ASD) and the advancement of the clinical understanding of using that agent against other disorders such as myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS) and Long COVID-19 Syndrome (“LCS”), a clinical diagnosis in individuals who have been previously infected with COVID-19.
In February 2021, we announced positive topline data from our Phase 2 dose-ranging clinical trial evaluating PAX-101 (commonly known as intravenous suramin) for the treatment of the core symptoms of ASD.
(Note: PaxMedica, Inc. priced its IPO on Aug. 25, 2022, at $5.25 – within its $4.50-to-$6.50 price range – and sold 1.55 million shares (1,545,454 shares), the number of shares in the prospectus, to raise $8.1 million. PaxMedica disclosed new terms for its IPO in an S-1/A filing dated Aug. 8, 2022: 1.55 million shares (1,545,454 shares) at $4.50 to $6.50.)
(Background Note: PaxMedica updated its IPO plan in an S-1/A filing dated June 10, 2022, by deleting its previous terms and creating a blank slate, changing its underwriter to Craft Capital Management as the sole book-runner, reporting a change of address to Tarrytown, N.Y., from Woodcliff Lake, N.J., and updating its financial statements. In an S-1/A filing dated July 18, 2022, R.F. Lafferty was added as a joint book-runner. The deal’s initial size – set in an S-1/A filing on July 23, 2022 – was 2.5 million shares at $5.50 to $6.50, but those terms were later discarded. This IPO has been in the pipeline since its S-1 was filed on July 2, 2020. It filed confidentially to go public on May 15, 2020.)
|Address||303 South Broadway, Suite 125 Tarrytown, NY 10591|
|View Prospectus:||PaxMedica, Inc.|
|Revenues||$0 mil (last 12 months)|
|Net Income||$-10.23 mil (last 12 months)|
|Price range||$5.25 - $5.25|
|Est. $ Volume||$8.1 mil|
|Manager / Joint Managers||Craft Capital Management/ R.F.Lafferty & Co.|
|Expected To Trade:||8/26/2022|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|