Retension Pharmaceuticals, Inc. Form 424B4 — Oct 9, 2026
Retension Pharmaceuticals priced its IPO of 3,750,000 shares at $12.00 per share, seeking $45 million gross ($38.9 million net) with a 562,500-share greenshoe. Shares will list on Nasdaq under symbol RTSN, with Leerink Partners and Guggenheim Securities leading the underwriting. Proceeds are earmarked for the ongoing Phase 2b trial of RTN-001, its lead hypertension drug candidate. The IPO comes with substantial caveats: the auditor's report includes a going-concern explanatory paragraph, and FY2025 financials were restated due to an accounting error tied to CRO advance payments.
Key figures
- Eps
- -$9.32 basic/diluted (6M ended Jun 30, 2026); -$1.64 pro forma
- Net Income
- -$7.5M for 6M ended Jun 30, 2026; -$6.3M FY2025; -$1.9M FY2024
- Total Debt
- 0
- Total Assets
- 16127000
- Cash Position
- 13493037
- Gross Proceeds
- 45000000
- Offering Price
- 12
- Shares Offered
- 3750000
- Shares Outstanding
- 8,331,599 (8,894,099 if greenshoe exercised)
- Runway
- at least 21 months post-offering
- Net proceeds
- $38.9M ($45.1M with greenshoe)
- Greenshoe shares
- 562500
- Accumulated deficit
- $15.8M as of Jun 30, 2026
- Reverse split ratio
- 1-for-6.21 (effective Oct 2, 2026)
- Cash runway pre offering
- insufficient for ~12 months (going concern)
- Underwriting discount per share
- 0.84
AI analysis
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