US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

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.

US IPOs and Secondary Offerings

TRex Bio (TRXB): TRex Bio Closes Flat as Oversubscribed Book Fails to Deliver IPO Pop

TRex Bio (TRXB): Biotech Sector Remains Open as Lilly Backed Bio Sets Terms for IPO

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>TRex Bio is seeking a $384–$439 million market cap, offering investors exposure to a clinical-stage platform targeting tissue Tregs across autoimmune and inflammatory diseases.</li>
<li>Eli Lilly provides meaningful validation, with a 23.8% pre-IPO stake and an anchor order allowing it to maintain up to 19.9%.</li>
<li>TRB-061 is the key near-term catalyst, with Phase 1b data in atopic dermatitis expected in mid-2027</li>
</ul>


TRex Bio is seeking a $384–$439 million market cap, offering investors exposure to a clinical-stage platform targeting tissue Tregs across autoimmune and inflammatory diseases.
Eli Lilly provides meaningful validation, with a 23.8% pre-IPO stake and an anchor order allowing it to maintain up to 19.9%.
TRB-061 is the key near-term catalyst, with Phase 1b data in atopic dermatitis expected in mid-2027


TRex Bio (TRXB): TRex Brings Treg Science to a Still-Open Biotech IPO Window