US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>AURN001, is an improved formulation designed to be mechanistically identical to Vyznova and to provide enhanced benefits, including manufacturing scalability and extended shelf life.</li>
<li>There is pending litigation between Aurion Biotech and the company's largest shareholder, Alcon Research.</li>
<li>This company is on a trajectory to set terms and debut in the first half of February.</li>
</ul>


AURN001, is an improved formulation designed to be mechanistically identical to Vyznova and to provide enhanced benefits, including manufacturing scalability and extended shelf life.
There is pending litigation between Aurion Biotech and the company's largest shareholder, Alcon Research.
This company is on a trajectory to set terms and debut in the first half of February.


Aurion Biotech (AURN):  Regenerative Eye Disease Biotech Filed for IPO Despite Investor Litigation

Aardvark Therapeutics / Equity Capital Markets

<ul>
<li>The company priced 5.88 million shares at $16.00—the low end of its $16.00–$18.00 range—and opened immediately underwater at $15.18, a 5.1% decline.</li>
<li>In our pre-pricing notes, we flagged the lack of sector-dedicated crossover funds in earlier rounds and a muted “buzz factor” ahead of launch.</li>
<li>Aardvark closed out the 2025 biotech IPO calendar—and in many ways, its performance “froze” the market.</li>
</ul>


The company priced 5.88 million shares at $16.00—the low end of its $16.00–$18.00 range—and opened immediately underwater at $15.18, a 5.1% decline.
In our pre-pricing notes, we flagged the lack of sector-dedicated crossover funds in earlier rounds and a muted “buzz factor” ahead of launch.
Aardvark closed out the 2025 biotech IPO calendar—and in many ways, its performance “froze” the market.


Aardvark Therapeutics (AARD) Six Month Summary: A Cold Debut That Froze the Biotech Market

United States

Aurion Biotechnologies operates as a clinical-stage biotechnology company. The Company focuses on developing life-changing regenerative therapies. Aurion Biotechnologies serves customers in the United States.

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Aurion Biotech (AURN US)

Aurion Biotech (AURN): Regenerative Eye Disease Biotech Filed for IPO Despite Investor Litigation

Regenerative eye disease biopharma, Aurion Biotech plans to go public in February despite litigation with largest shareholder Alcon Research.

IPO Boutique

Aardvark Therapeutics (AARD) Six Month Summary: A Cold Debut That Froze the Biotech Market

Aardvark's biotech IPO priced at low end, opened underwater, highlighting lack of sector interest and market freeze in 2025.

IPO Boutique

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Aurion Biotech (AURN): Regenerative Eye Disease Biotech Filed for IPO Despite Investor Litigation

Regenerative eye disease biopharma, Aurion Biotech plans to go public in February despite litigation with largest shareholder Alcon Research.

IPO Boutique

Aardvark Therapeutics (AARD) Six Month Summary: A Cold Debut That Froze the Biotech Market

​Aardvark's biotech IPO priced at low end, opened underwater, highlighting lack of sector interest and market freeze in 2025.

IPO Boutique

Aardvark's biotech IPO priced at low end, opened underwater, highlighting lack of sector interest and market freeze in 2025.