Dermatology drug developer Azitra upsizes proposed IPO to $20M (AZTR)

Dermatology drug developer Azitra (AZTR) has barely upsized its proposed preliminary public providing to $20M.

Azitra mentioned in a submitting that it was now trying to provide 2.4M shares priced at $5 per share, a determine that might possible change. Underwriters can be granted a 45-day possibility to purchase as much as 360K extra shares to cowl over-allotments.

Final month, the biotech firm indicated in an S-1 submitting that it was searching for to boost round $17M.

Azitra intends to record its shares on NYSE below the image AZTR. Assume Fairness is serving as lead underwriter.

Primarily based in Connecticut, Azitra is a developer of bioengineered therapies for the remedy of dermatological ailments and problems. The corporate’s lead product is a genetically modified micro organism known as ATR-12 for the remedy of a uncommon illness known as Netherton Syndrome. The product is in Part I testing.

Earlier Monday, neurostimulation gadget maker Cortigent (CRGT) filed for a $17M IPO. The corporate is growing units to assist restore imaginative and prescient in profoundly blind individuals and motion within the arms and fingers of stroke sufferers.

Biotech IPOs have executed pretty properly up to now this yr. Mineralys Therapeutics (MLYS) raised $192M in January, adopted by a $161M IPO by Construction Therapeutics (GPCR) in early February.

For extra on Azitra, try Donovan Jones’s “Azitra Begins $17M US IPO Effort.”