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Sept. 19, 2022, 9:08 a.m. EDT

Genelux sets IPO terms, as the biotech could be valued at up to $165 millino

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By Tomi Kilgore

Genelux Corp. GNLX 0.00% has set terms for its initial public offering, in which the California-based biotechnology company focused on treating difficult-to-treat tumors could be valued at up to $164.99 million. The company said it is offering 2.5 million shares in the IPO, which is expected to price between $6 and $7 a share, as the company looks to raise up to $17.5 million. The stock is expected to list on the Nasdaq under the ticker symbol "GNLX." Benchmark and Brookline Capital are the underwriters. The company reported a net loss of $6.62 million on no revenue in the six months ended June 30, after a loss of $9.69 million on no revenue in the same period a year ago. The company is looking to go public at a time that investor interest in IPO shares have picked up, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +6.35% has rallied 9.1% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +3.09% has tacked on 5.4%.

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US : U.S.: NYSE Arca
$ 27.63
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US : S&P US
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Nov. 30, 2022 5:28p
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