Nuvectis Pharma expected to be sole IPO in U.S. market this week

The U.S. initial public offering market is expected to see just one deal this week, taking a pause after the shortened holiday week. Last week, there was just one IPO and six SPACs, or special purpose acquisition corporations, which raise money and then acquire a business or businesses. This week’s deal comes from Nuvectis Pharma, according to Renaissance Capital, a biotech focused on developing precision medicines for the treatment of serious unmet medical needs in the field of oncology. The company is aiming to raise up to $32.2 million to fund clinical trials of its two product candidates. The company has applied to list on Nasdaq under the ticker “NVCT.” ThinkEquity is sold underwriter. The Renaissance IPO ETF
IPO,

has gained 0.1% in the year to date, while the S&P 500
SPX,

has gained 22%.