Solid tumor biotech Intensity Therapeutics postpones $10 million IPO
November 9, 2022
Intensity Therapeutics, a Phase 2 biotech developing intratumoral injection therapies for cancer, postponed its IPO on Wednesday. It had most recently filed in September to raise $10 million by offering 2.2 million shares at a price range of $4 to $5.
Intensity Therapeutics originally filed for an IPO in October 2021, setting terms the following November to raise $15 million by offering 1.5 million shares at a price range of $9 to $11. The company revised the terms in December, planning to raise the same amount by offering 2.1 million shares at a range of $6 to $8. This past April, it filed a new blank prospectus and disclosed that it planned to offer units with warrants attached, but removed the warrants when it set new terms in September.
The Westport, CT-based company was founded in 2012 and had planned to list on the Nasdaq under the symbol INTS. Roth Capital and The Benchmark Company were set to be the joint bookrunners on the deal.