Intrinsic Medicine, which develops treatments for gut-related conditions using synthetic biology-manufactured human identical milk oligosaccharide (HiMO) molecules, has cancelled plans to go public in the US. Learn more about the withdrawn IPO, and find out about similar companies in which you can invest.
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What we know about the Intrinsic Medicine IPO
On July 25, 2022, Intrinsic Medicine announced it was cancelling its plans to go public. Originally, it had planned to conduct an IPO on the Nasdaq under the ticker symbol “INRX.” Altogether, the company had planned to raise around $25 million by offering 4.2 million stocks at a price of $5.00 – $7.00.
Spartan Capital Securities, LLC was slated to act as the lead underwriter of the deal. You can read more about the IPO in this prospectus submitted to the US Securities and Exchange Commission (SEC) on May 4, 2022.
Current market conditions have been cited as the reason for for the cancellation. A future IPO date has not been announced.
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Even though you won’t be able to buy Intrinsic Medicine stock, you can still invest in other biotechnology companies that develop treatments for gut-related conditions.
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