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San Diego-based biotechnology company Aspen Neuroscience, Inc. has announced terms for its proposed $150 million initial public offering. The Phase 1/2a clinical-stage company is offering 9.38 million shares at an estimated price range of $15.00 to $17.00 per share. At the $16.00 midpoint, the offering would value the company at approximately $465.26 million. Joint book-runners for the IPO include Leerink Partners, Piper Sandler, Stifel, UBS Investment Bank, and Oppenheimer & Co.
Aspen Neuroscience is developing its lead product candidate, sasineprocel, an investigational autologous induced-pluripotent stem cell (iPSC)-based therapy designed to treat sporadic Parkinson’s disease. According to the company’s prospectus, the therapy aims to replace lost dopaminergic neurons to potentially modify the disease’s progression. The company is currently evaluating the treatment in a Phase 1/2a clinical trial and anticipates dosing patients in a Phase 3 trial during the second half of 2027.
Founded in 2018 based on regenerative medicine research from the Scripps Research Institute, Aspen Neuroscience remains in the pre-revenue development stage. Financial disclosures in the prospectus report a net loss of $66.84 million on zero product revenue for the 12-month period ending June 30, 2026, as the biotech continues to fund its clinical pipeline and scalability platforms.
