IPOs this week : Nov. 15 - 19, 2021 (wk 46)

IPOs expected to price

• Braze (NASDAQ:BRZE), UserTesting (NYSE:USER), Iris Energy (NASDAQ:IREN), Sono Group (NASDAQ:SEV) on November 17, as well as KC Holdco (NYSE:KLC) and Sweetgreen (NYSE:SG) on November 18. 

Of the bunch, Sono Group is capturing the most attention. The parent company for Sono Motors describes itself as being on a pioneering mission to accelerate the revolution of mobility by making every vehicle solar. The company's Sion solar electric vehicle is expected to be the first of its kind and more than 16K reservations with advance payments have been made. The vehicle will be produced through contract manufacturing with customer deliveries expected to begin in the first half of 2023. Sono Motors (SEV) believes that SEVs will be the next big wave in e-mobility and calls combustion engines a thing of the past. The company wants to take the solar concept to trucks, trailers and buses.

IPO quiet period expirations

• Vita Coco Company (NASDAQ:COCO), Enfusion (NYSE:ENFN), Portillo's (NASDAQ:PTLO), P10 (NYSE:PX), Runway Growth Finance (NASDAQ:RWAY), Stronghold Digital Mining (NASDAQ:SDIG) and Ventyx (VYTX) on November 15. 
• Aris Water Solutions (NYSE:ARIS), Xilio Therapeutics (NASDAQ:XLO) and Minerva Surgical (NASDAQ:UTRS) on November 16.

IPO lockup expirations

• Jiuzi Holdings (NASDAQ:JZXN), Oatly Group (NASDAQ:OTLY), Procore Technologies (NYSE:PCOR) and Virpax Pharmaceuticals (NASDAQ:VRPX).

Virpax Pharma (VRPX) began trading on the Nasdaq on Wed 17 Feb 21

Pennsylvania-based Virpax Pharmaceuticals (VRPX) has priced its IPO of 1.8M common shares at $10.00/share, for gross proceeds of $18M.

The company was founded to create new formulations for the use of existing, approved drugs for various forms of pain management applications.

• Headquarters: West Chester, PA
• Founded: 2016
• virpaxpharma.com

Virpax's drug development pipeline

West Chester, PA-based preclinical stage biopharmaceutical company is focused developing non-opioid and non-addictive pain management products, using new drug delivery systems.

• It has rights to develop and sell a proprietary patented nonsteroid anti-inflammatory Topical Spray Film Delivery Technology for acute musculoskeletal pain (DSF100 or Epoladerm) and for chronic osteoarthritis of the knee (OSF200).
• The company also rights to injectable, long-acting local anesthetic Liposomal (Hydro) Gel Technology for postoperative pain management (LBL100 or Probudur).
• Virpax says that it also has plans on using our proprietary delivery technologies to develop anti-viral therapies as an anti-viral barrier to potentially prevent or reduce the risk or the intensity of viral infections in humans, including,  influenza and SARS-CoV-2.