Aspen Neuroscience (ASPE), a biotech developing a stem cell therapy to treat patients with Parkinson’s Disease, priced its IPO at $15.00 – the low end of its range – and sold 9.375 million shares – the number in the prospectus – to raise $140.63 million on Thursday night, Oct. 29, 2026. The San Diego-based biotech’s IPO had been marketed at a price range of $15.00 to $17.00.
Aspen Neuroscience’s stock is expected to start trading today – Friday, Oct. 30 – on NASDAQ.
At pricing, Aspen Neuroscience had a market cap of $436.18 million.
Leerink Partners, Piper Sandler, Stifel, UBS Investment Bank and Oppenheimer & Co. were the joint book-runners.
Aspen Neuroscience is a Phase 1/2a biotech targeting Parkinson’s Disease.
In the second half of 2027, Aspen Neuroscience expects to move its lead drug candidate, sasineprocel, into a Phase 3 trial.
OrbiMed and ARCH Venture Fund X, L.P. are among Aspen Neuroscience’s major shareholders.
Aspen Neuroscience is evaluating its lead product candidate, sasineprocel, as an investigational single-dose and autologous iPSC-based cell therapy in a Phase 1/2a ASPIRO clinical trial to treat patients with mid-stage to moderately advanced sporadic Parkinson’s Disease (PD), according to the prospectus. (Note: iPSC stands for induced-pluripotent stem cell.)
In that trial, “patients have experienced, what we believe to be, sustained and clinically meaningful improvements in motor, quality of life, and non-motor symptoms as measured by comparison to clinically meaningful change benchmarks,” Aspen Neuroscience said in the prospectus. “Based on these findings, we believe sasineprocel has the potential to improve upon the current standard of care in PD and address the significant unmet need in PD for a disease-modifying therapy that may slow or halt the progression of this devastating disease.”
Financial Snapshot: Net loss of $66.84 million on no product revenue for the 12 months that ended on June 30, 2026, according to the prospectus.
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