As the second quarter ends, microcap IPOs continue with a slow flow and ongoing focus on advanced technologies.
The third quarter starts with an NYSE early close on July 3 before the Independence Day holiday.
Upcoming microcap floats include a 3D printer and a biotech developing cancer therapies.
3D Printing With a Patented Process
XJet (XJET) has an estimated IPO date of June 28 and intends to raise $10 million at a nearly $99 million market cap. Founded in 2005 and based in Israel, XJet manufactures and sells 3D printers for ceramic and metal end-use parts for use in hardware, software, and consumable materials.
The company’s patented Nano-Particles Jetting process creates thin layers of metal or ceramic materials to produce challenging or impossible parts to make using traditional manufacturing technologies. XJet booked $6 million in sales for the year ended Dec. 31, 2022. Aegis Capital is the sole bookrunner on this deal.
Phase 2 Biotech Developing Injection Therapies for Cancer
Intensity Therapeutics (INTS) has an estimated IPO date of June 30 and seeks to raise nearly $15 million at an about $57 million market cap. Founded in 2012 in the United States, Intensity Therapeutics is a Phase 2 biotech developing injection therapies for cancer tumors.
Intensity completed the Phase 1 dose escalation study for its lead candidate, INT230-6, which includes two proven anti-cancer agents mixed with the amphiphilic molecule. Enrollment was completed for a randomized Phase 2 study in Canada as a treatment before surgery for early-stage breast cancer as of Dec. 31. The company reported a 2023 first-quarter net loss of $1.34 million compared to $2.37 million last year. The joint bookrunners on this deal are Freedom Capital Markets and the Benchmark Company.