initial public offerings (IPOs) trading on American exchanges

Monday, September 30, 2019

IPOs this week : Sept 30 - Oct 4, 19 (wk 40)

IPOs expected to price
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.
Meanwhile, Budweiser Brewing Company APAC (BUDBC) is due to begin trading in Hong Kong on September 30 under stock code 1876.
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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