Israeli biotech Polyrizon to offer 3.1 million units in IPO priced at $5.20 to $7.20 each

Polyrizon Ltd. set terms for its initial public offering on Friday, with plans to offer 3.1 million units priced at $5.20 to $7.20 a pop. Each unit will consist of one ordinary share and three warrants, each to purchase on ordinary share. The company has applied to list on Nasdaq under the ticker “PLRZ.” Aegis Capital Corp. is sole underwriter on the deal. Proceeds will be used to fund preclinical and clinical research, and for working capital and general corporate purposes, including potential acquisitions. “We are a development stage biotech company specializing in the development of innovative medical device hydrogels delivered in the form of nasal sprays, which form a thin hydrogel-based shield containment barrier in the nasal cavity that can provide a barrier against viruses and allergens from contacting the nasal epithelial tissue,” the company says in its filing documents. The Renaissance IPO ETF IPO, -0.10% has fallen 47% in the year to date, while the S&P 500 SPX, -1.02% has fallen 21%.