Still haven't read it, and won't. But it is a substantial document, and does explain everything you might need to know about the business, as S-1's do (and their previous version did). So if you want details on how many patients they've treated and where, it's all there. No claimed results, except that they have had no adverse reactions (not surprising that they would stress that, as basic safety of the product needs to be established ASAP, and is really the only value of the offshore studies at this stage).
The IPO is indeed scheduled for this year, as 2023 is indicated in various places. I'd guess sooner rather than later, insofar as their burn rate is now high and they desperately need the money. To that point, I did notice an interesting little ditty buried somewhere in the middle. It sounds like, as of April, they have a bit of a disagreement with European Wellness regarding payment under their services contract. Surprise, surprise. When I read about that deal when it happened last year, it struck me as one of those things where the customer expects the world (basically, access to the FDA -- doesn't everyone...) and the supplier is shrugging and saying "we'll do the best we can, show us the money". I could be dead wrong, but that's what I read in the tea leaves that they have buried in the S-1. And that tells me they need the money even more now, as they were likely counting on the next $600K from EW to pay the bills. Without those $, they need to get serious about the IPO. My interpretation only.
In any case, there are no significant IPO-related numbers other than the expected range of the reverse split, which of course is is extremely important, and new info. Thank you Nathan for doing us that solid. The other number that matters is the share price, which one would hope would be north of $10. But it can't be under $5 or so to get a listing (I'm not up on the latest rules of the NYSE American, but you certainly don't want to list the shares, and then be immediately battling a delisting if the price drops a little). So we'll see about that. Bottom line: It appears that this is happening. Be sure your broker is prepared to convert your shares. Best guess is the SP will drop quite a bit at first, and then do what all biotech IPOs do -- bounce all over the place based on rumors from clinical trials. If that's not for you, I'd sell. OTOH, if the clinical trials go well, the beautiful thing here is the share count will likely be something in the range of 5 million, which is nothing -- meaning there will be ample opportunity for multiple stock splits if things go well. And, personally, I do expect things to go well initially, in terms of basic safety, and enough efficacy to warrant moving to the next phase. There is a lot of anecdotal smoke with AlloRx, and I suspect there could be fire, once they get it into real clinical trials. We'll see.
