After 11 years of listing, iX Biopharma’s share price finally recovered back to its IPO price during today’s trading session and currently has a market cap of around $438 million.
Back in July 2015, iX Biopharma was listed on the Catalist board with an IPO price of 46 cents. The IPO allowed the pharmaceutical company to raise some $30 million in proceeds.
However, just one year ago, iX Biopharma’s share price was trading at a near-distressed level of around 1.5 cents per share.
Since then, its share price has miraculously shot up by more than 2,200% across the same period. That means that based on a $1,000 investment in iX Biopharma one year ago, investors today can expect a return of more than $22,000.
Some of the contributing factors for this strong run-up can be attributed to the participation of institution investors such as Lion Global Investors and Ginko-AGT Global Growth Fund for their November 2025 placement and the latest US Department of Defense (DoD) US$40.95 million contract to fund the development of Wafermine.
More importantly, iX Biopharma is back on analysts’ radar yet again. On April 10, Phillip Securities’ research head Paul Chew re-initiated coverage on iX Biopharma with a “buy” call and $1 price target.
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From his perspective, Chew believes that the recent US$40.95 million Phase 3 clinical trial funding and orders from the US DoD are a major endorsement and major external validation of the WaferiX sublingual technology.
Following his call, share price gained 65% and closed at 33 cents on the same day of his re-initiation report, with 130 million shares changing hands. In the following days ahead, share price saw a further gain of 28%.
As of 4pm, shares in iX Biopharma were unchanged at 42.5 cents.
