Nasus Pharma Announces Pricing of $10 Million Initial Public Offering

Rhea-AI Summary

Nasus Pharma (NYSE:NSRX), a clinical-stage pharmaceutical company specializing in intranasal emergency medical treatments, has announced the pricing of its Initial Public Offering (IPO). The company is offering 1,250,000 ordinary shares at $8.00 per share, aiming to raise $10 million in gross proceeds.

The company has granted underwriters a 45-day option to purchase up to 187,500 additional shares. Trading will commence on NYSE American LLC on August 13, 2025, under the symbol "NSRX". The proceeds will primarily fund the development of their intranasal Epinephrine program, including manufacturing scale-up and Phase 2 studies.

Positive

• None.

Negative

• Relatively small IPO size of $10 million may limit growth potential
• Clinical-stage company with no commercial products yet
• Potential dilution for future shareholders through additional share offerings

Insights

IPO & Biotech Investment Specialist

Nasus Pharma's $10M IPO provides modest funding for its intranasal emergency medication pipeline, particularly its Epinephrine program.

Nasus Pharma has priced its IPO at $8.00 per share, raising $10 million in gross proceeds before deducting offering expenses. The company is offering 1,250,000 ordinary shares with an additional 187,500-share option for underwriters to cover potential over-allotments.

This is a relatively small IPO by pharmaceutical industry standards, indicating a focused capital raise rather than a major market entry. The $10 million represents limited runway funding that will primarily advance the company's intranasal Epinephrine program through manufacturing scale-up and additional Phase 2 studies.

Nasus specializes in developing intranasal delivery systems for emergency medical conditions, with their Epinephrine program likely targeting conditions like anaphylaxis where rapid administration is critical. The intranasal route offers potential advantages over traditional injectable epinephrine in emergency situations through easier administration and potentially faster onset.

The IPO structure with joint bookrunners Laidlaw & Company and Craft Capital Management suggests a targeted offering aimed at specialized biotech investors rather than broad market participation. The company's NYSE American listing (rather than Nasdaq) aligns with its early clinical-stage status and modest capitalization.

This capital infusion should provide Nasus with sufficient resources to reach its next clinical development milestones, though additional funding rounds will likely be necessary before commercialization of any products.

TEL AVIV, Israel, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Nasus Pharma Ltd. (NYSE: NSRX) (“Nasus Pharma” or the “Company”), a clinical-stage pharmaceutical company focused on the development of innovative intranasal products to treat emergency medical conditions, today announced the pricing of its initial public offering of 1,250,000 ordinary shares (“Ordinary Shares”) at a public offering price of $8.00 per Ordinary Share, for aggregate gross proceeds of $10 million, prior to deducting underwriting discounts, commissions, and other offering expenses and excluding any exercise of the underwriters’ option to purchase any additional securities as described herein. In addition, Nasus Pharma has granted the underwriters an option for a period of up to 45 days from the date of the final prospectus, purchase up to an additional 187,500 Ordinary Shares at the initial public offering price, less the underwriting discounts and commissions, to cover the over-allotment, if any.

The Company intends to use the net proceeds from the initial public offering for furthering the development of its intranasal Epinephrine program, including, manufacturing scale-up and additional Phase 2 studies, and the remainder for general and administrative corporate purposes, including working capital, and capital expenditures.

In connection with the offering, Nasus Pharma’s Ordinary Shares have been approved for listing on the NYSE American LLC. The Ordinary Shares are expected to begin trading on the NYSE American LLC on August 13, 2025 under the ticker symbol "NSRX". The offering is expected to close on August 14, 2025, subject to customary closing conditions.

Laidlaw & Company (UK) Ltd. and Craft Capital Management LLC are acting as Joint Bookrunners for the offering.

A registration statement on Form F-1 (File No. 333-288582) (the “Registration Statement”) relating to the initial public offering was filed with the Securities and Exchange Commission (“SEC”) and declared effective by the SEC on August 12, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities referred to herein nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering will be made only by means of a prospectus forming a part of the Registration Statement. A copy of the final prospectus relating to this offering, when available, will be filed with the SEC and may also be obtained from Laidlaw & Company (UK) Ltd., 521 Fifth Ave, 12^th Floor, New York, NY 10075, or by calling 212-953-4900 or by emailing syndicate@laidlawltd.com.

About Nasus Pharma

Nasus Pharma is a clinical-stage pharmaceutical company developing a number of intranasal powder products addressing acute medical conditions in the community. NS002, Nasus’s intranasal powder Epinephrine product candidate is being developed as a needle-free alternative to Epinephrine autoinjectors for patients with anaphylaxis. Intranasal administration is most suitable for those situations in which rapid drug delivery is required and offers needle free, easy to use alternatives. Nasus proprietary powder-based intranasal (“PBI”) technology is designed for rapid and reliable drug delivery, leveraging the nasal cavity’s rich vascular network for quick absorption. The PBI formulation uses uniform spherical powder particles for broad dispersion and potentially faster, higher absorption compared to liquid-based nasal products.

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including, among other things, statements related to the initial public offering, the expected use of proceeds from such offering, the expected start of trading of the Company’s ordinary shares on the NYSE American and the expected closing date of the offering. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Registration Statement final prospectus related to the public offering filed with the SEC. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Contact
info@nasuspharma.com
Nasus Pharma Ltd. Israel
https://www.nasuspharma.com

Investor Contact
Mike Moyer
LifeSci Advisors
+1-617-308-4306
mmoyer@lifesciadvisors.com

FAQ

What is the IPO price for Nasus Pharma (NSRX) shares?

Nasus Pharma has priced its IPO at $8.00 per ordinary share, offering 1,250,000 shares to raise $10 million in gross proceeds.

When will NSRX stock begin trading on the NYSE American?

Nasus Pharma (NSRX) shares are scheduled to begin trading on the NYSE American LLC on August 13, 2025.

How will Nasus Pharma use the IPO proceeds?

The proceeds will be used primarily for developing their intranasal Epinephrine program, including manufacturing scale-up, Phase 2 studies, and general corporate purposes.

Who are the underwriters for the Nasus Pharma IPO?

Laidlaw & Company (UK) Ltd. and Craft Capital Management LLC are acting as Joint Bookrunners for the offering.

What is Nasus Pharma's main business focus?

Nasus Pharma is a clinical-stage pharmaceutical company focused on developing innovative intranasal products for emergency medical conditions.