Two biotechs started trading on Thursday. Here is how they did it.

The time of dreams


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IPO market set to close 2021 with a thud after


Immix Biopharma
,

a biotech, fell below its offer price.

Immix is ​​the third company this week to trade below its initial public offering price. Wednesday,


Genenta Science

(GNTA), a biotech, fell more than 4% on Wednesday, as


Fresh vine wine

(VINE), a producer of low-carb wine, plunged nearly 30% the day before.


Bionomy

also opened on Thursday, with shares rising nearly 7%. Biotechnology is not considered an IPO since its shares are already traded on the Australian Securities Exchange.

IPOs slowed considerably in December. Ten companies went public this month using a traditional IPO, raising $ 4.9 billion, Dealogic said. This compares to last year, when 21 companies listed their shares using traditional offerings, raising $ 12.8 billion.

The IPO market is expected to take a break next week for the holidays, with many transactions on hold. New issues are expected to reopen in mid-January. No company is expected to go public on Friday using a traditional offering.

Six companies, including Immix and


Bionomy
,

have evaluated their offers this week. Sidus Space (ticker: SIDU), a satellite company, put in a strong performance when its stock climbed nearly 144% on Tuesday. Wednesday, the stock of


Samsara

(IOT), an Internet of Things company, grew more than 7%.

Shares of Immix (IMMX) opened to $ 5 and fell. The stock recently changed hands, in afternoon trading, to $ 4.27, down nearly 15% from its offer price.

Immix is ​​developing tissue-specific therapies to treat cancer and inflammation. Its lead product candidate, IMX-110, is currently in Phase 1b / 2a clinical trials for solid tumors in the United States and Australia, according to a prospectus.

Immix increased the size of its deal to $ 4.2 million in shares, which it sold at $ 5 each. The Los Angeles-based company had planned to sell about 3.83 million shares at $ 5 to $ 6 each.

Bionomcis (BNOX) shares, meanwhile, opened at $ 22 and recently traded at $ 13.20, up 85 cents from its offer price.

Bionomics develops therapies for people with severe central nervous system disorders. Its lead product candidate, BNC210, treats social anxiety disorder and post-traumatic stress disorder, according to a prospectus.

Bionomics sold 1.62 million US Depository Shares, or ADSs, at $ 12.35 per share. Each ADS represents 180 common shares of Bionomics.

Write to Luisa Beltran at [email protected]


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