Taiwan Biotech Jyong Prices $20M Nasdaq IPO at $7.50

Jyong Biotech Ltd., a Taiwan-based biotech company specializing in plant-derived drugs for urinary diseases, has priced its initial public offering (IPO) at $7.50 per share to raise approximately $20 million. The company plans to list on the Nasdaq under the ticker symbol MENS, with trading beginning on June 17, 2025. The IPO proceeds will primarily fund the Phase III trials and new drug application for its lead candidate MCS-2, with additional allocations for earlier-stage trials targeting prostate cancer prevention, interstitial cystitis, and general corporate purposes. Joseph Stone Capital is the sole underwriter for the offering, which includes an over-allotment option of 400,000 shares. While this capital raise is critical to advancing Jyong's pipeline, the company faces typical biotech commercialization risks, particularly given the need to demonstrate comparability and successfully resubmit its NDA for MCS-2 after withdrawing the initial filing. The IPO enhances Jyong Biotech's access to capital markets across the U.S., EU, and Asia to support its innovative drug development initiatives.