As the second quarter ends, microcap IPOs continue with a slow flow and ongoing focus on advanced technologies.
After concerns about the banking crisis, fear of inflation, and rising interest rates, the Federal Reserve held interest rates steady last week.
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.
