Aditxt subsidiary Pearsanta prepares for IPO with lead underwriter

MOUNTAIN VIEW, Calif. - Aditxt, Inc. (NASDAQ:ADTX), a health innovation platform with a current market capitalization of $1.68 million, announced today that its subsidiary, Pearsanta, Inc., has appointed Dominari Securities LLC as the lead underwriter for its upcoming initial public offering (IPO). According to InvestingPro data, Aditxt operates with significant debt burden and has been quickly burning through cash, highlighting the strategic importance of this IPO move. The IPO, guided by Dominari Securities, aims to support Pearsanta’s commercial launch in the U.S. and international markets and to further develop its Mitomic® Technology for early cancer detection.

Pearsanta is working on a non-invasive blood test for early-stage cancer detection, which could lead to better treatment outcomes. The company’s Mitomic® Technology uses mitochondrial DNA deletions as biomarkers for disease detection. Pearsanta’s biomarker portfolio addresses a variety of cancers and has potential applications beyond oncology.

The planned IPO, expected in the second half of 2025, is part of Pearsanta’s strategy to fund the launch of its Laboratory Developed Tests (LDTs) for early cancer detection and to facilitate global commercialization through distribution partnerships and regulatory approvals.

Chris Mitton, President of Pearsanta, highlighted the importance of early cancer diagnostics, stating, "With more than 50% of cancers still diagnosed at late stages, there is a critical need for earlier and more accurate diagnostics." Amro Albanna, Co-Founder, Chairman, and CEO of Aditxt, emphasized that the IPO reflects Aditxt’s commitment to advancing medical solutions and addressing unmet healthcare needs.

Pearsanta has been advancing clinical validation and seeking funding opportunities to grow its diagnostic pipeline. In August 2024, the company submitted a $2.3 million proposal to the Department of Defense’s Congressionally Directed Medical (TASE:BLWV) Research Program to evaluate its Mitomic Prostate Test’s efficacy in reducing unnecessary biopsies. A decision on this proposal is expected in the first half of 2025.

Despite a $1.1 million proposal for the Mitomic Ovarian Test not being funded, Pearsanta continues to pursue additional funding and clinical validation efforts. Financial metrics from InvestingPro show Aditxt’s challenging position with a weak gross profit margin of -297% and a concerning current ratio of 0.09, indicating potential liquidity challenges.

Aditxt’s business model involves collaborating with research institutions and industry partners to bring health innovations to market. The company is also planning to introduce new programs focused on public health and women’s health through strategic agreements, subject to certain conditions, including raising sufficient capital. For deeper insights into Aditxt’s financial health and additional analysis, investors can access 15+ exclusive ProTips and comprehensive financial metrics through InvestingPro.

This article is based on a press release statement.

In other recent news, Aditxt, Inc. has announced plans to potentially take its subsidiary, Pearsanta, Inc., public through an initial public offering (IPO) in 2025. This decision is intended to accelerate Pearsanta’s growth, particularly in its focus on early cancer detection technology using its Mitomic® Technology platform. The IPO is anticipated to provide Pearsanta with the resources needed to expand its market presence and enhance its operational capabilities. Aditxt’s broader strategy involves collaborations with research institutions and industry partners, aiming to drive growth through innovation in immune and precision health. The company also plans to introduce new programs in public health and women’s health in collaboration with Appili Therapeutics, Inc. and Evofem Biosciences (OTC:EVFM), Inc. However, the execution of these strategic initiatives, including the proposed IPO, is contingent upon securing necessary capital and approvals from target shareholders. Aditxt’s recent activities also highlight the importance of raising sufficient funds, as demonstrated by the cancellation of Evofem’s special stockholders meeting and the withdrawal of a merger proposal with Aditxt. These developments reflect Aditxt’s current intentions and projections, which remain subject to change.

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