NewcelX Ltd.

NewcelX Ltd. (NLSP) priced its initial public offering on Feb 1, 2021 at $4.15 per share, below its $5.00–$6.00 range, raising $20M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $48.9M. Maxim Group was lead-left underwriter, joined by Brookline and Arcadia. Sullivan & Worcester advised the company and Loeb & Loeb advised the underwriters.

At its 2021 IPO, the company now named NewcelX Ltd. was a clinical-stage pharmaceutical company developing therapies for rare central nervous system disorders. Its lead compound, mazindol in a controlled release formulation, targeted narcolepsy first and ADHD as a follow-on indication.

Status

IPO

Ticker

NLSP

Exchange

Nasdaq Capital Market

Priced

Feb 1, 2021

IPO price

$4.15

Price range

$5.00–$6.00

Raised

$20M

Market cap at IPO price

$48.9M

First filed

Feb 28, 2020

Underwriters

Maxim Group, Brookline and Arcadia

Company counsel

Sullivan & Worcester

Underwriters' counsel

Loeb & Loeb

Sector

Biotech & pharma

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.