Grid Dynamics (GDYN) to join the S&P SmallCap 600, replacing Revelyst Inc. (NYSE: GEAR)

Grid Dynamics (GDYN) bean trading on the Nasdaq Stock Market on March 6, 2020 after business combination with ChaSerg Technology Acquisition Corp. (Nasdaq: CTAC)

• Sector: Technology
• Industry: Information Technology Services
• Full Time Employees: 4,298
• Founded in 2006 
• Headquartered in San Ramon, California
• https://www.griddynamics.com

 

 

zSpace (ZSPC) began trading on the Nasdaq on Thur 5 Dec 24

zSpace, Inc. engages in the provision of augmented reality (AR) and virtual reality (VR) educational technology solutions. It offers platform that serves a broad range of critical educational tools designed for K-12 science, technology, engineering and math (STEM) lessons as well as training skilled trades in areas such as health sciences, automotive engineering and repair, Unity3D software programming, and advanced manufacturing. 

Founded by Nancy Clemens and Michael Vesely on October 26, 2006

Headquartered in San Jose, CA

https://zspace.com/

reAlpha Tech (AIRE): 1-year performance

reAlpha is a real estate technology company that launched GENA, a technology that uses AI to enhance property listings on online real estate marketplaces.

The company was formerly known as eAlpha Asset Management, Inc. and changed its name to reAlpha Tech Corp. in March 2023. 

• Sector: Real Estate
• Industry: Real Estate Services
• Full Time Employees: 7
• Founded by Giri Devanur in 2020
• Headquartered in Dublin, Ohio
• https://www.realpha.com

 

 

 reAlpha Tech Corp.'s first day of trading on the Nasdaq Capital Market was Monday, October 23, 2023. The stock opened at $23.01. On its first day, reAlpha's stock spiked by more than 1,600%, but then lost two-thirds of that gain in after-hours trading.

Health In Tech (HIT) began trading on the Nasdaq on Mon 23 Dec 24

Health In Tech is an insurtech platform company backed by third-party AI technology.

• Sector: Technology
• Industry: Software - Application
• Full Time Employees: 72
• Founded in 1964 
• Based in Stuart, Florida
• https://healthintech.com

Health In Tech closed its initial public offering of 2,300,000 shares of its Class A common stock at a public offering price of $4.00 per share, for gross proceeds of $9,200,000.

 

Chinese data center operator Yovole to consider US IPO

Yovole Networks is a provider of data center and cloud computing services. The company provides information solutions to enterprises through cloud computing models, including cloud desktops, cloud hosts, cloud storage, cloud communications, cloud mailboxes, cloud office and other products.

This enterprise-level cloud computing operator that has built data centers of more than 100,000 square meters. 

• Founded in 2001 
• Headquartered in Shanghai, China.
• https://www.yovole.com/

(Bloomberg) -- Yovole is considering an initial public offering in the US, people familiar with the matter said, years after the Chinese data center operator’s failed attempt to list in mainland China.

The company, which is backed by Beijing-based alternative asset manager CDH Investments, is working with an adviser on a potential first-time share sale that may help it raise more than $100 million, the people said, asking not to be identified discussing a private matter. Yovole may consider submitting a confidential filing with US regulators as soon as in January, the people said.

Founded in 2001, Yovole, or “You Fu” in Chinese, provides cloud computing data center services in China, operating in major cities including Beijing, Shanghai, Guangzhou and Shenzhen, according to its website.

The company has counted big technology firms and financial institutions including Alibaba Group Holding Ltd., Tencent Holdings Ltd. and China UnionPay Co. as clients, according to a filing in 2020 when Yovole was attempting an IPO in China.

Japan-based web developer SFIDA X files for a $12 million US IPO

SFIDA X, a Japan-based provider of website design, development, and other IT services, filed on Monday with the SEC for an initial public offering. The company used a $12 million placeholder for its estimated deal size.

• https://www.sfidax.jp/en/

The Tokyo, Japan-based company was founded in 2009 and booked $29 million in sales for the 12 months ended March 31, 2024. It plans to list on the Nasdaq under the symbol SFDX. SFIDA X filed confidentially on September 13, 2024. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.

Jupiter Neurosciences (JUNS) began trading on the Nasdaq on Tue 3 Dec 24

Jupiter Neurosciences, Inc., a clinical stage research and development pharmaceutical company, develops resveratrol platform products primarily for the treatment of neuroinflammation. It is developing JNS101, which is in Phase II trial for the treatment of Friedreich's Ataxia, a rare inherited disease that causes damage to the nervous system, as well as mobility dysfunctions; and JNS108 that is in Phase II trial for treating mild cognitive impairment/early Alzheimer's disease. 

The company was formerly known as Jupiter Orphan Therapeutics, Inc. and changed its name to Jupiter Neurosciences, Inc. in August 2021.

• Sector: Healthcare
• Industry: Biotechnology
• Full Time Employees: 4
• Incorporated in 2015 
• Headquartered in Jupiter, Florida
• https://jupiterneurosciences.com/

Ticker: JUNS

 

One and two weeks later:

Aspen Aerogels (ASPN) : 10-year performance

• Aspen originally filed for an IPO on June 24, 2011 with the intent of raising $115M on the NASDAQ exchange, later retracted the filing, possibly due to an unfortunate coincident global downturn in construction.

Aspen Aerogels, Inc. designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and sustainable insulation materials markets.

The company offers PyroThin thermal barriers for use in lithium-ion batteries in electric vehicles and energy storage industries; Pyrogel XTE that reduces the risk of corrosion under insulation in energy infrastructure operating systems; and Pyrogel HPS for applications within the power generation market.

The company was founded in 2001 and is headquartered in Northborough, Massachusetts.

ServiceTitan (TTAN) began trading on the Nasdaq on Thur 12 Dec 24

ServiceTitan is an American cloud-based software company headquartered in Glendale, California. It provides customer relationship management software for tradespersons, with applications focused on sales, customer service, marketing automation, e-commerce and analytics.

• Founded: 2012
• Employees: 2,870
• Website: servicetitan.com

ServiceTitan targets businesses in plumbing, landscaping, electrical and other trades, with software for managing sales leads, recording calls, generating quotes and scheduling jobs. As of Jan. 31, it had about 8,000 customers with more than $10,000 in annualized billings.

Ara Mahdessian, CEO and co-founder of ServiceTitan, and Vahe Kuzoyan, president and co-founder of ServiceTitan, attend the company’s IPO at the Nasdaq Market in New York City, U.S., December 12, 2024.  / Brendan Mcdermid | Reuters

ServiceTitan’s IPO is notable because few tech companies have taken the leap into the public market since late 2021, when rising interest rates and soaring inflation pushed investors out of risky assets. ServiceTitan is the first significant venture-backed tech company to go public since Rubrik’s (RBRK) debut in April. A month before that, Reddit (RDDT) started trading on the New York Stock Exchange.

 

BioAge Labs (BIOA) stops Eli Lilly-collaborated obesity trial on safety concerns

• Tirzepatide is an active ingredient of Eli Lilly’s popular Zepbound and Mounjaro.
• The trial was designed to evaluate the efficacy as measured by body weight reduction and other outcomes, safety, and tolerability of two oral doses of azelaprag (300 mg, once or twice daily) in combination with tirzepatide (5 mg subcutaneous injection once weekly).
• In parallel to evaluating azelaprag, Company will continue to advance earlier platform-derived programs, including IND submission for CNS penetrant NLRP3 inhibitor anticipated in the second half of 2025.

 

On Friday, BioAge Labs Inc. (NASDAQ:BIOA) announced that it will discontinue the ongoing STRIDES Phase 2 study of its investigational drug candidate, azelaprag.

STRIDES was being conducted in collaboration with Eli Lilly And Co’s (NYSE:LLY) Chorus clinical development organization. Top-line results were anticipated in the third quarter of 2025.

The move follows after liver transaminitis without clinically significant symptoms was observed in some subjects receiving azelaprag.

STRIDES is a Phase 2 clinical trial of azelaprag as monotherapy and in combination with tirzepatide that planned to enroll approximately 220 individuals with obesity aged 55 years and older.

Tirzepatide is an active ingredient of Eli Lilly’s popular Zepbound and Mounjaro.

The trial was designed to evaluate the efficacy as measured by body weight reduction and other outcomes, safety, and tolerability of two oral doses of azelaprag (300 mg, once or twice daily) in combination with tirzepatide (5 mg subcutaneous injection once weekly).

An azelaprag monotherapy arm was included to provide additional safety information.

The company said no transaminase elevations were observed in the tirzepatide only treatment group.

Of 204 subjects enrolled in STRIDES, 11 subjects in the azelaprag treatment groups were observed to have transaminase (liver enzymes) elevations with no clinically significant symptoms. Dosing of all subjects will be discontinued, and no additional subjects will be enrolled.

Clinical follow-up of enrolled subjects will continue off-drug. The company intends to further analyze available STRIDES clinical data from all enrolled subjects and share updated plans for azelaprag in the first quarter of 2025.

The company’s brain-penetrant NLRP3 inhibitors are progressing toward IND submission, anticipated in the second half of 2025. The NLRP3 inhibitor program targets neuroinflammation linked to metabolic and neurodegenerative diseases.

As of September 30, BioAge had approximately $334.5 million in cash and cash equivalents, which is expected to be sufficient to fund operations and capital expenses into 2029.

In October, BioAge Labs closed its upsized initial public offering of 12.65 million shares at $18 per share.

Xilio Therapeutics (XLO) : 3-year performance

Xilio Therapeutics, Inc., a clinical-stage biotechnology company, engages in the discovery and development of tumor-activated immuno-oncology therapies. 

• Sector: Healthcare
• Industry: Biotechnology
• Full Time Employees: 73
• Founded in 2016 
• Headquartered in Waltham, Massachusetts
• https://xiliotx.com

Ticker: XLO

October 22, 2021 : initial public offering of 7,353,000 shares of its common stock at a price to the public of $16.00 per share. 

 

 

 

Pulse Biosciences (PLSE) : 8-year performance

Pulse Biosciences CEO Burke T. Barrett to resign, effective today; also to resign from Board

• The Company's Chief Commercial Officer, Kevin P. Danahy, and its Chief Technology Officer, Darrin R. Uecker, will serve as the Company's principal executive and principal financial officers until such time as the Company has identified a chief executive officer to replace Mr. Barrett.
• Messrs. Danahy and Uecker have both served as the Company's Chief Executive Officer at different times before Mr. Barrett.

3 days later

Software startup ServiceTitan seeks up to $5.2 billion valuation in US IPO

 (Reuters) -Software startup ServiceTitan is seeking a valuation of up to $5.16 billion in its U.S. initial public offering, it said on Tuesday, in what could be one of the final few flotations of the year that saw a revival in the market for new listings.

• https://www.servicetitan.com/

Glendale, California-based ServiceTitan is looking to raise up to $502 million by offering 8.8 million shares priced between $52 and $57 each.

ServiceTitan will join a handful of venture capital-backed firms, including social media platform Reddit and cybersecurity software firm Rubrik, which have all gone public this year.

ServiceTitan - whose rivals include software vendors Salesforce, SAP, and Jobber - was incorporated in 2007 as LinxLogic. It first launched its platform in 2012 and was renamed to ServiceTitan in 2014.

While it fetched a $9.5 billion valuation during the 2021 fundraising boom, ServiceTitan was valued at $7.6 billion after a 2022 funding round, PitchBook data showed.

ServiceTitan will be listed on the Nasdaq under the symbol "TTAN."

KULR Technology Group (KULR): 3-year performance

• Sector: Technology
• Industry: Electronic Components
• https://www.kulrtechnology.com