Aspen Neuroscience (ASPE), a clinical-stage biotechnology company developing stem cell therapies for Parkinson’s disease, priced its initial public offering at $15.00 per share on Thursday night, hitting the low end of its $15.00 to $17.00 targeted range. The San Diego-based firm sold 9.375 million shares to raise approximately $140.63 million, resulting in a market capitalization of $436.18 million at pricing.
The biotech’s stock faced a challenging debut on the NASDAQ amid a broader market downturn that marked the worst month for the exchange since March 2025. Trading under the ticker ASPE, the stock opened below its offering price at $14.70 and finished its first session down 11 cents at $14.89 on light volume.
Backed by major shareholders including OrbiMed and ARCH Venture Fund, Aspen Neuroscience is currently advancing its lead investigational candidate, sasineprocel, through a Phase 1/2a trial for Parkinson’s disease. The company reported a net loss of $66.84 million on no product revenue for the 12-month period ending June 30, 2026, and anticipates moving sasineprocel into a Phase 3 trial in the second half of 2027.
