Alopexx, Inc.
Alopexx, Inc. filed Amendment No. 20 to its S-1 registration statement on October 26, 2026, for a firm-commitment IPO of 3,000,000 shares of common stock at an estimated $10.00–$12.00 per share, with a 450,000-share over-allotment option. The company has applied to list on NYSE American under "ALPX." ThinkEquity is the sole underwriter, receiving a 7.0% discount plus a 1.0% non-accountable expense allowance. Post-IPO, CEO Daniel Vlock will hold 55.8% voting control, making Alopexx a "controlled company." The company is a clinical-stage biotech with two lead programs: vaccine AV0328 (Phase 1 completed) and monoclonal antibody F598 (Phase 1 and pilot Phase 2 completed), both targeting the PNAG antigen found on over 75 pathogens.
- Amendment No. 20 — the S-1 has been through 20 amendments since initial filing (Reg. No. 333-263328), signaling a protracted SEC review process.
- 3M shares at $10–$12 implies $30M–$36M gross proceeds before underwriting discounts (7% + 1% non-accountable allowance).
- CEO Daniel Vlock will control 55.8% of voting power post-IPO, qualifying Alopexx as a NYSE American "controlled company."
- Lead asset F598 completed Phase 1 and pilot Phase 2 trials; a single infusion provided 2–3 months of antibody coverage with no serious adverse events.
- The company estimates peak US sales of $3.0B/year for F598 in ICU settings and over $2B/year globally for AV0328 as a pneumococcal vaccine complement.
Price data unavailable.
Amendment No. 20 signals a biotech IPO nearing the finish line after an unusually protracted SEC review, with a broad-platform pitch targeting a conserved pathogen antigen — a high-risk, high-reward proposition at an early clinical stage.
Alopexx enters a crowded anti-infective biotech IPO market with a broad-spectrum platform targeting PNAG, a conserved antigen across 75+ pathogens including AMR strains. The estimated $2B+ peak sales projections for each lead program are aggressive for a preclinical/Phase 2-stage company and will face scrutiny against comparables like Vaccitech or Vaxcyte.
The S-1 has undergone 20 amendments, suggesting extended SEC review and potential disclosure or accounting concerns. Both lead assets remain early-stage (Phase 1/2) with no pivotal data. The controlled-company structure post-IPO concentrates voting power with the CEO, limiting shareholder influence on governance.