Jupiter Neuroscience (NASDAQ:JUNS), which is developing therapies based on the nutraceutical resveratrol, has updated pricing for a proposed $15M initial public offering.
The biotech firm said that it is now looking to offer 2.6M shares priced at $5.75 per share, a number that could likely change. In August, the company proposed offering 2.5M priced between $5 and $7 per share.
The company intends to list its shares on Nasdaq under the symbol JUNS. Spartan Capital is serving as lead bookrunner.
Jupiter’s lead product candidate, Jotrol, is based on the compound resveratrol. The company has been testing it as a possible treatment for neuro-inflammation associated with diseases such as ALS and Alzheimer’s. The compound, which is considered a nutraceutical, is found in plants such as grapes and berries.
In January, Jupiter said it was interested in offering 2.2M shares priced between $6 and $8, which would have raised approximately $15M if priced at the midpoint.