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

Odyssey Therapeutics / Equity Capital Markets

<ul>
<li>Odyssey Therapeutics is advancing oral small-molecule therapies for ulcerative colitis, led by OD-001, with IPO pricing set at $16–$18 ahead of a May debut.</li>
<li>Proceeds will fund Phase 2 development of OD-001, progress the SLC15A4 program, and support broader pipeline and discovery efforts.</li>
<li>Backed by a concurrent private placement from TPG and improving biotech IPO sentiment, the deal presents an intriguing near-term risk-reward profile.</li>
</ul>


Odyssey Therapeutics is advancing oral small-molecule therapies for ulcerative colitis, led by OD-001, with IPO pricing set at $16–$18 ahead of a May debut.
Proceeds will fund Phase 2 development of OD-001, progress the SLC15A4 program, and support broader pipeline and discovery efforts.
Backed by a concurrent private placement from TPG and improving biotech IPO sentiment, the deal presents an intriguing near-term risk-reward profile.


Odyssey Therapeutics, Inc.(ODTX): Ulcerative Colitis Revives IPO Plans, Sets Terms

Get Ahead with IPO Insights, IPO Prophet

IPO Prophet

Get Ahead with IPO Insights

At IPO Prophet®, our team leverages over three decades of expertise to deliver actionable quantitative analytics for the IPO market in real-time. This platform synthesizes our extensive experience investing in IPOs, providing investors with revolutionary tools to navigate the complexities of issuance day. Our mission is to empower investors with data-driven insights to make more informed decisions.

<ul><li>The IPO market remained active Thursday with two new deals hitting the tape, producing very different trading profiles throughout the session.</li><li>HawkEye 360 (NYSE: HAWK) , the space-based signals intelligence company, delivered a constructive and stable debut that aligned closely with IPO Prophet’s quantitative framework, while Suja Life (NASDAQ: SUJA) failed to establish upside momentum during its first day of trading.</li><li>HawkEye 360 priced its IPO at $26 and opened at $33.80, immediately triggering a Bull Signal at the open.</li></ul>

The IPO market remained active Thursday with two new deals hitting the tape, producing very different trading profiles throughout the session.HawkEye 360 (NYSE: HAWK) , the space-based signals intelligence company, delivered a constructive and stable debut that aligned closely with IPO Prophet’s quantitative framework, while Suja Life (NASDAQ: SUJA) failed to establish upside momentum during its first day of trading.HawkEye 360 priced its IPO at $26 and opened at $33.80, immediately triggering a Bull Signal at the open.

IPO Market Remains Constructive as HawkEye 360 Holds Gains While Suja Life Opens Below Issue Price

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

<ul>
<li>Biotech seeking to transform the standard of care for patients suffering from autoimmune and inflammatory diseases filed its IPO on January 18th</li>
<li>Lead program, OD-07656, is currently in a Phase 2a monotherapy trial for ulcerative colitis</li>
<li>Potential IPO for Odyssey Therapeutics would be the first half of February</li>
</ul>


Biotech seeking to transform the standard of care for patients suffering from autoimmune and inflammatory diseases filed its IPO on January 18th
Lead program, OD-07656, is currently in a Phase 2a monotherapy trial for ulcerative colitis
Potential IPO for Odyssey Therapeutics would be the first half of February


Odyssey Therapeutics, Inc.(ODTX): Biotech Combating Ulcerative Colitis, or UC, Files for IPO

United States

Clinical-stage biopharmaceutical company seeking to transform the standard of care for patients suffering from autoimmune and inflammatory diseases by developing medicines that are designed to precisely target disease pathology

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Odyssey Therapeutics (ODTX US)

Odyssey Therapeutics, Inc.(ODTX): Ulcerative Colitis Revives IPO Plans, Sets Terms

Odyssey Therapeutics set to debut IPO for oral therapies for ulcerative colitis, with proceeds funding Phase 2 development and broader pipeline...

IPO Boutique

IPO Market Remains Constructive as HawkEye 360 Holds Gains While Suja Life Opens Below Issue Price

The IPO market remained active Thursday with two new deals hitting the tape, producing very different trading profiles throughout the...

IPO Prophet

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

Odyssey Therapeutics, Inc.(ODTX): Biotech Combating Ulcerative Colitis, or UC, Files for IPO

Biotech company Odyssey Therapeutics files IPO to revolutionize treatment for autoimmune diseases, with lead program in Phase 2 trial for...

IPO Boutique

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52-week Range

Market Cap (USDm)

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Odyssey Therapeutics, Inc.(ODTX): Ulcerative Colitis Revives IPO Plans, Sets Terms

​Odyssey Therapeutics set to debut IPO for oral therapies for ulcerative colitis, with proceeds funding Phase 2 development and broader pipeline...

IPO Boutique

IPO Market Remains Constructive as HawkEye 360 Holds Gains While Suja Life Opens Below Issue Price

The IPO market remained active Thursday with two new deals hitting the tape, producing very different trading profiles throughout the...

IPO Prophet

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

Odyssey Therapeutics, Inc.(ODTX): Biotech Combating Ulcerative Colitis, or UC, Files for IPO

​Biotech company Odyssey Therapeutics files IPO to revolutionize treatment for autoimmune diseases, with lead program in Phase 2 trial for...

IPO Boutique

Odyssey Therapeutics set to debut IPO for oral therapies for ulcerative colitis, with proceeds funding Phase 2 development and broader pipeline...

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

Biotech company Odyssey Therapeutics files IPO to revolutionize treatment for autoimmune diseases, with lead program in Phase 2 trial for...