Curanex Pharmaceuticals Inc. Announces Exercise of the Over-Allotment Option by Underwriters
Rhea-AI Summary
Curanex Pharmaceuticals (NASDAQ:CURX), a developmental stage pharmaceutical company, announced the full exercise of the over-allotment option by lead underwriter Dominari Securities LLC following its IPO. The underwriters purchased an additional 562,500 shares at $4.00 per share, raising an extra $2.25 million.
The total gross proceeds from the IPO now amount to $17.25 million through the issuance of 4,312,500 total shares. The offering was led by Dominari Securities LLC, with Pacific Century Securities and Revere Securities as co-underwriters. The registration statement became effective on August 12, 2025.
Positive
- None.
Negative
- Significant shareholder dilution from issuance of 4,312,500 total shares
- Early-stage company status with developmental products indicates high investment risk
Insights
Curanex successfully raised an additional $2.25M through full exercise of IPO over-allotment option, demonstrating strong investor demand.
The full exercise of the over-allotment option by lead underwriter Dominari Securities represents a positive signal for Curanex Pharmaceuticals. The additional sale of 562,500 shares at the $4.00 IPO price brings total gross proceeds to
This development is particularly significant for a developmental stage pharmaceutical company focused on botanical drugs for inflammatory diseases. The complete exercise of the "greenshoe" option indicates strong initial demand for the IPO that exceeded the initial allocation. Underwriters typically only exercise this option when they believe they can place these additional shares with investors at the offering price.
For Curanex, these additional funds strengthen its balance sheet at a critical early stage, potentially extending its operational runway while pursuing its drug development programs. The successful IPO and over-allotment exercise provide validation of investor interest in the company's approach to botanical drug development for inflammatory conditions.
However, investors should note that as a developmental stage company, Curanex likely faces significant R&D expenses and regulatory hurdles before potentially bringing products to market. The additional capital, while positive, represents just one step in what is typically a lengthy and capital-intensive drug development process for pharmaceutical companies.
Jericho, New York, Sept. 12, 2025 (GLOBE NEWSWIRE) -- Curanex Pharmaceuticals Inc. (Nasdaq: CURX) (“Curanex” or the “Company”), a developmental stage pharmaceutical company focused on discovering and developing botanical drugs for inflammatory diseases, today announced that Dominari Securities LLC, which acted as the lead underwriter for the Company’s underwritten initial public offering (the “Offering” or the “IPO”), has exercised in full the over-allotment option the Company granted to the underwriters and purchased additional 562,500 shares of common stock of the Company at the IPO price of
As a result of the sale of these 562,500 shares, the Company has raised an additional
Dominari Securities LLC acted as the lead underwriter for the Offering, with Pacific Century Securities LLC and Revere Securities LLC acting as co-underwriters. The Crone Law Group, P.C. served as counsel to the Company. Sichenzia Ross Ference Carmel LLP served as lead counsel to the underwriters with respect to the Offering.
A registration statement on Form S-1, as amended (File No. 333-282686) relating to the Offering was previously filed with the Securities and Exchange Commission (the “SEC”) and subsequently declared effective by the SEC on August 12, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus related to the Offering may be obtained from Dominari Securities LLC, 725 5th Avenue, 23rd Floor, New York, NY 10022, or by telephone at (212) 393-4500.
Before you invest in the Company, you should read the final prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Curanex Pharmaceuticals Inc
Curanex Pharmaceuticals Inc is a developmental stage pharmaceutical company headquartered in Jericho, New York, dedicated to discovering and developing botanical drugs for inflammatory diseases. Its lead candidate, Phyto-N, is a botanical extract from a single plant with proven anti-inflammatory properties that acts via multiple targets and mechanisms. Phyto-N has a long history of human use, having treated thousands of patients with inflammatory diseases over 30 years in China, demonstrating favorable tolerability.
The Company has validated Phyto-N's effects in animal models of six inflammatory diseases: ulcerative colitis, atopic dermatitis, COVID-19, diabetes, nonalcoholic fatty liver disease, and gout. The primary indication is moderate to severe ulcerative colitis. The Company will advance its lead botanical drug candidate, Phyto-N, through FDA-required studies, IND submission, and into Phase I clinical trials.
For more information, visit the Company’s website at www.curanexpharma.com.
Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements are made as of the date hereof and involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.
For more information, please contact:
Curanex Pharmaceuticals Inc
Attn: Liqin Xie, Chief Operating Officer
FAQ
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