Summary
- PaxMedica intends to raise $15 million in a U.S. IPO.
- The firm is developing a treatment for autism and other neurodegenerative disorders.
- PXMD is thinly capitalized with an unorthodox trial effort, so I'll watch the IPO from the sidelines.
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Quick Take
PaxMedica (PXMD) intends to raise $15 million from the sale of its common stock in an IPO, according to an amended registration statement.
The company is developing treatments for neurodevelopmental disorders such as autism.
PXMD is a thinly capitalized firm with an unorthodox trial effort, so I'll wait on the sidelines.
Company & Technology
Woodcliff Lake, New Jersey-based PaxMedica was founded to advance programs based on anti-purinergic therapies for neurodevelopmental disorders such as autism spectrum disorder [ASD] and Fragile X syndrome tremor-ataxia.
Management is headed by Chief Executive Officer Mr. Howard Weisman, who has been with the firm since March 2020 and was previously founder and Executive Chairman of Sofregen, a clinical stage biomedical device firm in the reconstructive plastic surgery industry.
Below is a brief overview video of ASD:
