PaxMedica (PXMD) IPO Opens 24% Higher

Today's IPO for PaxMedica, Inc. (Nasdaq: PXMD) opened for trading at $6.50 per share after pricing 1,545,454 shares of its common stock at a public price of $5.25 per share.

Craft Capital Management LLC and R.F. Lafferty & Co., Inc. are acting as representatives for the offering.

PaxMedica is a clinical stage biopharmaceutical company focusing on the development of anti-purinergic drug therapies) for the treatment of disorders with intractable neurologic symptoms, ranging from neurodevelopmental disorders, including Autism Spectrum Disorder, to Myalgic Encephalomyelitis/Chronic Fatigue Syndrome, a debilitating physical and cognitive disorder believed to be viral in origin and now with rising incidence globally due to the long term effects of SARS-CoV-2.

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