Pearsanta plans IPO with Spartan Capital as lead underwriter

MOUNTAIN VIEW, Calif. - Aditxt, Inc. (NASDAQ:ADTX), currently valued at $141.79 million, announced Tuesday that its subsidiary Pearsanta has engaged Spartan Capital Securities as lead underwriter for its planned initial public offering. According to InvestingPro data, Aditxt faces significant financial challenges with a gross profit margin of -916.59% and short-term obligations exceeding its liquid assets.

Spartan will serve as Pearsanta’s exclusive financial advisor and bookrunner for the offering, according to a company press release. The proposed IPO aims to support clinical validation and commercial rollout of Pearsanta’s tests for early detection of cancers and other diseases, which utilize its Mitomic mitochondrial DNA platform technology. While analysts expect Aditxt’s sales to grow by approximately 44% in the current fiscal year, InvestingPro subscribers can access 12 additional key insights about the company’s financial health and growth prospects.

Pearsanta operates a CLIA-certified, CAP-accredited laboratory infrastructure and focuses on developing non-invasive, blood-based liquid biopsy tests for cancer detection.

"We view the proposed IPO as a critical first step in advancing Pearsanta’s mission of addressing cancer through early detection," said Amro Albanna, Co-founder and CEO of Aditxt.

The IPO represents a milestone in Aditxt’s "Acquire, Build, and Capitalize" strategy, which the company describes as a framework for accelerating growth of innovative health companies.

Chris Mitton, President of Pearsanta, emphasized the importance of early detection in fighting cancer and other diseases, stating it "not only saves lives" but also reduces "emotional and financial toll on families, healthcare systems, and society."

The press release noted that this announcement does not constitute an offer to sell securities, and any offers will be made in accordance with Securities Act requirements.

Aditxt is also pursuing the acquisition of Evofem under an amended merger agreement from July 2024, with a targeted close in the second half of 2025. The Evofem transaction remains subject to shareholder approval and Aditxt raising approximately $17 million to fulfill its closing obligations. With a concerning current ratio of 0.08 and its next earnings report due on August 14, 2025, investors seeking deeper analysis can access comprehensive financial metrics and valuation models through InvestingPro.

In other recent news, Aditxt, Inc. announced that its subsidiary, Pearsanta, has been invited to submit a full proposal for the U.S. Department of Defense’s Ovarian Cancer Research Program Pilot Award. This follows a favorable review of their pre-proposal concerning the MitomicⓇ Ovarian Test. In a strategic move, Aditxt unveiled a new "bitXbio" capitalization strategy, combining Bitcoin reserves with an equity line facility to support its biotech ventures. This initiative aims to bolster the company’s balance sheet ahead of planned monetization events starting in 2026. Furthermore, Aditxt appointed Saundra Pelletier, CEO of Evofem Biosciences, to its Board of Directors as part of its expansion into the women’s health market. Pelletier brings extensive experience in pharmaceuticals and women’s healthcare products. Additionally, Aditxt secured a $233,000 loan from its CEO, Amro Albanna, which is set to accrue interest at an annual rate of 7.5%. These developments reflect Aditxt’s ongoing efforts to strengthen its financial position and strategic direction.

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