Five U.S. IPOs are expected to price on October 1, all on the smaller side ($40M to $245M). The companies set to debut are
- ADC Therapeutics (ADCT) -- Swiss biotech that plans to raise $200 million at a $1.8 billion valuation. The company is developing antibody drug conjugates, and its pipeline consists of seven candidates targeting hematological malignancies and solid tumors. Its two lead candidates are in pivotal Phase 2 trials, one of which is in collaboration with Genmab (NASDAQ:GMAB).
- Viela Bio (VIE), which is developing antibodies licensed from AstraZeneca, plans to raise $150 million at a $1.0 billion valuation. The company's lead candidate, inebilizumab, is a humanized monoclonal antibody designed to target CD19 for neuromyelitis optica spectrum disorder, a rare condition that attacks the nervous system. It could potentially be approved in the 1H20.
- Frequency Therapeutics (FREQ), a generative disease biotech that plans to raise $101 million to command a $526 million market cap. Its lead candidate, FX-322, is being developed to treat sensorineural hearing loss, the permanent loss of sensory hair cells in the cochlea within the ear.
- Aprea Therapeutics (APRE) and Monopar Therapeutics (MNPR) are both Phase 3 biotechs developing therapies for cancer;
- Metrocity Bankshares (OTCQX:MCBS) is a Georgia bank focused on serving Asian-American communities in the Eastern US and Texas.
Also in Hong Kong, Topsports International will begin trading on October 2 in an IPO aimed at raising up to $1.2B. Topsorts is the sportswear business of Chinese footwear retailer Belle International (OTCPK:BELLF).
IPO lockup expirations
IPO lockup expirations arrive for
- Ruhnn (NASDAQ:RUHN) and Powerbridge Technologies (NASDAQ:PBTS) on September 30, as well as for
- Tradeweb (NASDAQ:TW), Silk Road Medical (NASDAQ:SILK) and NGM Biopharmaceuticals (NASDAQ:NGM) on October 1.
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