Genelux IPO opens flat, halts on move higher By Investing.com

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Genelux IPO opens flat, halts on move higher

Stock Markets Jan 26, 2023 12:09PM ET

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Genelux IPO opens flat, halts on move higher

GNLX

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Today's IPO for Genelux Corporation (GNLX) opened for trading at $6 after pricing 2,500,000 shares of its common stock at a price to the public of $6.00 per share. Shares were halted on volatility immediately upon opening after jumping to $6.85.

The Benchmark Company, LLC and Brookline Capital Markets, a division of Arcadia Securities, LLC are acting as joint book-running managers for this offering.

Genelux is a clinical-stage biopharmaceutical company focused on developing a pipeline of next-generation oncolytic immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. The Company's most advanced product candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a proprietary, modified strain of the vaccinia virus, a stable DNA virus with a large engineering capacity. The core of Genelux's discovery and development efforts revolves around the Company's proprietary CHOICE™ platform from which the Company has developed an extensive library of isolated and engineered oncolytic vaccinia virus immunotherapeutic product candidates, including Olvi-Vec.

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