Intensity Therapeutics, Inc. (INTS) to Raise $10 Million in IPO

Intensity Therapeutics, Inc. (INTS) plans to raise $10 million in an IPO on the week of September 26th, IPO Scoop reports. The company will be issuing 2,200,000 shares at $4.00-$5.00 per share.

The company has a market cap of $80.9 million.

Roth Capital and The Benchmark Company acted as the underwriters for the IPO.

Intensity Therapeutics, Inc. provided the following description of their company for its IPO: ” Intensity Therapeutics, Inc. is a clinical stage biotechnology company passionately committed to applying scientific leadership in the field of localized cancer reduction leading to anti-cancer immune activation. Our new approach involves the direct injection into tumors of a unique product created from our DfuseRx℠ discovery platform. Our lead product candidate, INT230-6, consists of two proven anti-cancer cytotoxic agents, cisplatin and vinblastine sulfate, mixed with the amphiphilic molecule (SHAO) — all in one vial. Cisplatin was first approved in 1978 for testicular cancer. Per the product labeling, cisplatin’s approved indications include treatment of testicular, ovarian and bladder cancer. The drug is also used widely in several other cancers, including pancreatic and bile duct cancer. Vinblastine sulfate was first approved in 1965. Per the product labeling, vinblastine sulfate’s approved indications include treatment of generalized Hodgkin’s disease, lymphocytic lymphoma, advanced carcinoma of the testis, and Kaposi’s sarcoma. The drug is also used in breast and lung cancer. In 2017, we initiated a Phase 1/2 dose escalation study using INT230-6 in the United States under an investigational new drug application (“IND”) authorized by the FDA and in Canada following receipt of a no objection letter from Health Canada. The study, IT-01, is exploring the safety and efficacy of INT230-6 in patients with refractory or metastatic cancers. We completed the Phase 1 dose escalation portion of this study.  We are currently conducting the Phase 2 portion of the trial, which consists of several different expansion cohorts. Four of the cohorts combine our product candidate with Merck’s Keytruda® (pembrolizumab) and 3 arms combine our drug candidate with Bristol-Myers Squibb’s drug Yervoy® (ipilimumab). We are also evaluating INT230-6 in a Phase 2 study (the INVINCIBLE study) in Canada as a treatment before surgery in early-stage breast cancer. Between the metastatic study IT-01 and the INVINCIBLE study, we have treated over 115 patients as of Sept. 30, 2021. **Note: Revenue and net loss figures are for the 12 months that ended June 30, 2022.   (Note: Intensity Therapeutics revamped its IPO in an S-1/A filing dated Sept. 19, 2022, by deleting the warrants, increasing the number of shares, and cutting the price range. Here are Intensity Therapeutics’ new IPO terms, as of Sept. 19, 2022: 2.22 million shares (2,222,223 shares), up from 2.14 million units (each unit including one share of common stock and one warrant to buy one share of stock), at a price range of $4.00 to $5.00, down from the previous price range of $6 to $8. Estimated IPO proceeds are now about $10 million – down from $14.98 million previously. The IPO’s joint book-runners are Roth Capital Partners and The Benchmark Company, a switch from A.G.P and Brookline Capital Markets initially.  This IPO has been in the works since its S-1 was filed on Oct. 28, 2021, following a confidential filing on Sept. 20, 2021.) “.

Intensity Therapeutics, Inc. was founded in 2012 and has 15 employees. The company is located at 61 Wilton Road, 3rd Floor Westport, CT 06880 and can be reached via phone at (203) 221-7381 or on the web at http://www.intensitytherapeutics.com/.

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