TransMedics Group (TMDX) : 6-year performance

TransMedics Group, Inc., a commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally. 

• Sector: Healthcare
• Industry: Medical Devices
• Full Time Employees: 728
• Founded in 1998 
• Headquartered in Andover, Massachusetts.
• https://www.transmedics.com

 

 

 

TransMedics is in the business of providing the technology for organ transplants. Its Organ Care System (OCS) allows donor organs to be preserved in a living and functioning state by supplying oxygenated blood while they are being transported.

The OCS system sidesteps the limitations of using ice to transport organs such as the heart, liver or lungs. Organs placed in ice for extended periods of time are at risk of being damaged. According to the company, the OCS method has an added advantage since the system allows doctors to assess the organ's viability – something that is difficult to do when the organ is metabolically inactive in cold storage.

On Monday, shares rose 7%, extending a winning streak to four days after the FDA gave an investigational device exemption for OCS in a new clinical trial for heart transplants. The two-phase trial will test longer perfusion time (passage of blood) for heart transplants using OCS and assess the system's ability to support heart transplants from donors after brain death. The trial is expected to exceed 650 patients and may be the largest clinical trial conducted for heart preservation for transplant purposes.

Hoth Therapeutics (HOTH) : 5-year performance

Hoth Therapeutics, Inc. engages in the development of new generation therapies for dermatological disorders. Its product pipeline focuses on potential treatments for indications including atopic dermatitis (also known as eczema), chronic wounds, psoriasis, asthma, and acne.

• Sector: Healthcare
• Industry: Biotechnology
• Full Time Employees: 2
• Founded by Robbie Knie, Matthew D. Eitner, and James Ahern on May 16, 2017
• Headquartered in New York, New York
• https://hoththerapeutics.com

ticker:  HOTH

U.S.-listed IPOs, annual deal count and value

The value of new U.S. stock listings has only ticked up modestly from 2022, when rapidly rising interest rates and COVID-related distortions in some industries depressed IPO activity.

As of December 31, 2024. Source: Bloomberg Finance L.P.

MetroCity Bankshares (MCBS) increases quarterly cash dividend to $0.23/share

MetroCity Bankshares increases quarterly cash dividend to $0.23/share from $0.20/share and announces the continuation of its share repurchase program 

• The Company approves the continuation of its share repurchase program that expired on September 30, 2024 and authorized the Company to repurchase up to 925,250 shares of the Company's outstanding shares of common stock, which is the number of remaining shares authorized for repurchase from the Prior Share Repurchase Plan.
• The share repurchase program will begin on October 17, 2024 and end on September 30, 2025.

Earnings Date	Oct 18, 2024
Forward Dividend & Yield	0.80 (2.58%)
Ex-Dividend Date	Jul 31, 2024

Dividend Payable Date    Aug 9, 2024

X: Oct 10, vol. 17K

 

 

 

Akero Therapeutics (AKRO) : 4-year performance

Akero Therapeutics (Nasdaq: AKRO) is a clinical-stage biotechnology company focused on the development and commercialization of transformative treatments for patients with serious metabolic diseases with high unmet medical need. The company's lead program AKR-001 is being evaluated in a Phase 2a clinical trial for the treatment of non-alcoholic steatohepatitis (NASH). The company's lead drug, efruxifermin, is being studied for its ability to reverse scarring in patients with NASH. 

• June 20, 2019 : initial public offering of 5,750,000 shares of common stock at $16.00 per share. 
• Ticker: AKRO

About NASH

NASH is a leading cause of liver failure around the world, driven by the growing global epidemic of obesity. NASH is a severe form of non-alcoholic fatty liver disease (NAFLD) characterized by liver cell (hepatocyte) damage, liver inflammation, and fibrosis that can progress to cirrhosis, liver failure, cancer and death.

Borr Drilling Limited (BORR) began trading on the NYSE on Wed 31 Jul 19

Norwegian drilling contractor Borr Drilling Limited offered 5 million shares in an IPO, with the pricing fixed at $9.30 per share.

The common shares continue to be listed under the ticker "BDRILL" on the Oslo Børs.
Website www.borrdrilling.com
CEO Svend Anton Maier

Lockup Period (days) 180
Lockup Expiration 01/27/2020
Quiet Period Expiration 09/09/2019

The Company
Borr is an international offshore shallow-water drilling contractor providing offshore drilling services to the oil and gas industry. It primarily owns, contracts and operates jack-up rigs for operations in shallow-water areas of depth up to about 400 feet.

The company owns 27 rigs, including 26 jack-up rigs and one semi-submersible rig. With the additional eight jack-up rigs the company is expected to take delivery by the end of 2020, it will have a fleet of 30 jack-up rigs.

Borr currently operates in significant oil producing geographies throughout the world, including the North Sea, the Middle East, Mexico, West Africa and Southeast Asia.

LMP Automotive (LMPX) began trading on the Nasdaq on Thur 5 Dec 2019

LMP is an e-commerce platform for buying, selling and financing late model pre-owned automobiles. Through the Company’s platform, consumers can research and identify a vehicle, obtain financing and warranty coverage, purchase a vehicle and schedule delivery or pick-up all from their desktop or mobile devices.

• Share Price $5.00
• Employees 11 (as of 05/18/2019)
• Shares Offered 2300000
• Offer amount $11,500,000
• Shares Outstanding 8,301,639
• Lockup Period (days) 180
• Lockup Expiration 06/02/2020
• Quiet Period Expiration 01/14/2020
• Website www.lmpmotors.com

Samer Tawfik - CEO, Founder & Executive Director

EHang (EH) began trading on the Nasdaq on Thur 12 Dec 2019

Chinese developer of autonomous drones used for passenger services.

• Industry: Aerospace & Defense
• Sector: Industrials
  
• Full Time Employees: 367
• Founded by Huazhi Hu and Yifang Derrick Xiong in December 2014 
• Headquartered in Guangzhou, China.
• Mr. Huazhi Hu -- chief executive officer and the chairman of the board of directors
• https://www.ehang.com/

Ticker:  EH

Raised $40 million by offering 3.2 million ADSs at $12.50, the low end of the range of $12.50 to $14.50.

YayYo (YAYO) began trading on the Nasdaq on Fri 15 Dec 2019

YayYo operates Rideshare Platform, an online peer-to-peer booking platform that rents standard passenger vehicles to self-employed ridesharing drivers; and manages a fleet of standard passenger vehicles to be rented directly to drivers in the ridesharing economy through the Rideshare Platform.

• Sector: Technology
• Industry: Software—Application
• Full Time Employees: 21
• Founded in 2016
• HQ in Beverly Hills, California
• http://www.yayyo.com

BEVERLY HILLS, CA / ACCESSWIRE / November 15, 2019 / YayYo, Inc. ("YayYo")(Nasdaq:YAYO), a leading provider of vehicles to the rideshare industry, through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, bridging the gap between rideshare drivers needing a quality vehicle and rideshare companies that depend on attracting and keeping drivers with quality vehicles, today announced that it closed its initial public offering of 2,625,000 common shares at $4.00 per share. Total gross proceeds from the offering were $10,500,000, before deducting underwriting discounts and commissions and other offering expenses. The shares are listed on the Nasdaq Capital Market under the symbol "YAYO".

Aegis Capital Corp. and WestPark Capital, Inc. served as joint book running managers.

IPOs cancelled in 2019

The IPO cancellations in part are seen as a reflection of a weakening global economy, and also cast doubt on the solidity of some disruptive businesses.  While Asian deals have also suffered from the political protests in Hong Kong.

Here is a list of the most notable companies across the world to have pulled the plug on their IPOs in 2019:

• The We Company (WE), owner of office-sharing startup WeWork, scrapped its IPO in September, as concerns around the sustainability of its business model led to a lackluster response from investors.

• Endeavor Group (EDR):  Endeavor Group Holdings, the U.S. entertainment and talent agency company backed by Hollywood power-broker Ari Emanuel, abandoned its IPO in September following weak stock market investor demand.
• Inhibrx (INBX) has withdrawn its IPO registration statement. It filed a preliminary prospectus four months ago. (Nov 2019)
• GFL Environmental (GFL):  Waste management company GFL Environmental said earlier in November that it would cancel its initial public offering, with no immediate plans to revisit the markets, after institutional investors pressed the Canadian firm to price its shares below the marketed range.

** Italian luxury yacht maker Ferretti decided to pull its initial stock offering in mid October, as it was not satisfied with the price offered by investors. The yachtmaker's chief executive officer later said it plans to bring on board a European private investor.

** Private equity giant KKR & Co and its partners pulled a planned A$1 billion ($690.70 million) offering for lender Latitude Financial last month, which had been set to be Australia's biggest listing of the year.

** KKR and TPG Capital also canceled the IPO of Southeast Asia online realty company PropertyGuru, which had expected to raise up to A$380.2 million.

** Bitmain Technologies, the world's largest designer of products for mining cryptocurrencies, let its application for a Hong Kong IPO of at least $3 billion lapse in March, amid fears of price volatility as well as high-profile hacks and infrastructure failures.

Cabaletta Bio (CABA) began trading on the Nasdaq on Fri 25 Oct 2019

Cabaletta Bio, Inc. operates as a clinical-stage biotechnology company that focuses on the discovery and development of engineered T cell therapies for B cell-mediated autoimmune diseases.
The company was formerly known as Tycho Therapeutics, Inc. and changed its name to Cabaletta Bio, Inc. in August 2018.

• Sector: Healthcare
• Industry: Biotechnology
• Full Time Employees: 12
• Founded in 2017
• HQ: Philadelphia, Pennsylvania
• http://www.cabalettabio.com

ticker: CABA

The University of Pennsylvania spinout company priced upsized 6.8 mln share IPO (from 5.8 mln shares) at $11.00, below the expected $14.00-16.00 range.
Raised $74.8 million.
Shares of the firm closed Friday at $10 per share.
Cabaletta posted a loss of $12.2 million in 2018, and $6.9 million through the first six months of this year, according to federal filings.

Founded in 2017, the company is led by Dr. Steven Nichtberger, a former Merck executive who is Cabaletta's co-founder, chairman and CEO. Cabaletta’s foundational platform and lead assets are based on early work conducted at Penn by Drs. Michael Milone and Aimee Payne, both of whom are co-founders of the company.

Nichtberger holds nearly 1.97 million shares of the company, while Payne and Milone both own 1.633 million.

Cabaletta's technology involves the use of Chimeric AutoAntibody Receptor (CAAR) T cells, which are engineered to bind and destroy only disease-causing B cells, while sparing the normal B cells that are essential for human health. CAAR T cells are based on the revolutionary chimeric antigen receptor (CAR) T cell technology developed at the University of Pennsylvania, which led to the first gene therapy approval by the U.S. Food and Drug Administration: the Novartis cancer therapy Kymriah.

The company’s lead therapeutic program is a potential treatment for mucosal pemphigus vulgaris, a rare skin disorder that causes painful blisters and sores on mucous membranes.

BellRing Brands (BRBR) began trading on the NYSE on Thur 17 Oct 2019

• BellRing Brands upsized offering by 4.3 mln shares and priced 34.3 mln share IPO at $14.00 per share, below the expected range of $16-19
• Opened for trading at $15.60  
• Ticker: BRBR

 

Post +3% after subsidiary BellRing Brands (BRBR) successfully prices IPO

Overnight, BellRing priced an IPO consisting of 34.29 mln shares at $14.00. The company had initially expected to offer 30 mln shares between $16.00-19.00. Compared to these earlier expectations, gross proceeds are roughly 9% less than initially projected. The IPO is currently indicating $16/16.50, and should be opening for trade shortly.

Upon completion of the offering, Post is expected to own approximately 74% of BellRing, or approximately 71% if the underwriters exercise their option in full.

BellRing Brands is a holding company operating in the global convenient nutrition category, whose primary brands include Premier Protein, Dymatize and PowerBar.

BioNTech (BNTX) began trading on the Nasdaq on Thur 10 Oct 19

BioNTech SE, a biotechnology company, develops and commercializes immunotherapies for cancer and other diseases.

• Sector: Healthcare
• Industry: Biotechnology
• Full Time Employees: 1,179
• Founded in 2008
• HQ in Mainz, Germany
• http://www.biontech.de

BioNTech priced 10 mln share IPO at $15.00, the low-end of the reduced $15.00-$16.00 range

Datadog (DDOG) began trading on the Nasdaq on Thur 19 Sept 2019

Datadog, Inc. provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud.

• Sector(s): Technology
• Industry: Software—Application
• Full Time Employees: 1,403
• Founded in 2010 
• Headquartered in New York, New York.
• http://www.datadoghq.com

Cloudflare (NET) began trading on the NYSE on Fri 13 Sept 2019

CloudFlare specializes in a cloud-based network platform that promises security, enhanced performance of business-critical applications, and “eliminating the cost and complexity of managing individual network hardware”.

• Sector: Technology
• Industry: Software - Application
• Full Time Employees: 1,069
• Founded in 2009 
• HQ in San Francisco, California
• http://www.cloudflare.com

Shares hit high of $19.53 after pricing above range at $15. Closed up 20% at $18.

Cloudflare Inc. Co-founder and CEO, Matthew Prince, along with Co-Founder and COO, Michelle Zatlyn, joined by NYSE President Stacey Cunningham

Cloudflare Inc. Co-founder and CEO, Matthew Prince, along with Co-Founder and COO, Michelle Zatlyn

In August, Cloudflare dropped 8chan as a customer, condemning the unmoderated message board as “a receptive audience for domestic terrorists” following recent mass shootings, and this appears in the company’s “risk factors” section. Cloudflare noted that it was not the first time a customer elicited scrutiny after a violent attack.

The company also disclosed that it may have done business with individuals and entities tied with narcotics and terrorism according to the U.S. Department of the Treasury’s Office of Foreign Assets Control blacklists, and that it was introducing additional controls and screening to prevent similar activity occurring in the future.

Cloudflare’s IPO comes just a few months after cybersecurity company CrowdStrike (CRWD) went public in June. While CrowdStrike shares are trading 91% above their IPO price, the ETFMG Prime Cyber Security (HACK) is up 14% for the year and the Renaissance IPO ETF (IPO) is up 31%. The First Trust Cloud Computing ETF (SKYY) is up 19% for the year, compared with a 23% gain in the tech-heavy Nasdaq Composite Index COMP, -0.22%.

Cybersecurity has become a hot space recently as a buy or be bought mentality has crept into the year as VMware (VMW)  announced an acquisition of cybersecurity company Carbon Black (CBLK) Broadcom (AVGO)  made a bid for Symantec Corp.’s (SYMC)  enterprise business, and BlackBerry Ltd.’s (BB)  acquisition of Cylance in February.

Prince said an IPO has always been an implicit assumption at the company. As soon as you start taking venture capital money or start issuing options to employees, there’s an implicit signal that you’re going to have to turn that into something you can buy a house with or send a kid to college with, and that there was no pressure from early investors or employees, he said.

Satsuma Pharma (STSA) began trading on the Nasdaq on Fri 13 Sept 2019

Headquarters: South San Francisco, CA

Founded: 2016

Founded in June 2016, Satsuma is a clinical-stage biopharma company developing a novel therapeutic product for the acute treatment of migraines.

Its product candidate STS101 is a drug-device combination of a proprietary dry powder formulation of dihydroergotamine mesylate, or DHE, for quick and easy administration using a pre-filled, single-use, nasal delivery device.

Although DHE products have already been used for the acute treatment of migraines, widespread usage is constrained by invasive and burdensome administration and/or suboptimal clinical performance of available injectable and liquid nasal spray products.

A Phase 1 study of STS101 has been completed, with data from the trial showing rapid and sustained DHE plasma concentrations, low pharmacokinetic variability and a favorable safety and tolerability profile.

Recently, the company initiated a Phase 3 study dubbed EMERGE. Top-line data from the trial is expected in the second half of 2020.

"It has been estimated that migraine results in up to $36 billion in healthcare and lost productivity costs and up to 157 million lost workdays annually in the United States," Satsuma said in the filing, highlighting the market opportunity for its pipeline asset.

The Finances

Satsuma has yet to post revenue. The company reported a loss of $7.35 million for 2018 compared to a loss of $5.17 million in 2017. For the six moths ended June 30, the company's loss ballooned from $3.42 million to $9.11 million.

10x Genomics (TXG) began trading on the Nasdaq on Thur 12 Sept 19

• Sector: Healthcare
• Industry: Health Information Services
• Full Time Employees: 557
• Incorporated in 2012 
• HQ Pleasanton, California
• http://www.10xgenomics.com

Priced upsized 10 mln share (from 9 mln shares) IPO at $39.00, above the increased $36.00-38.00 range
Opened for trading at $54

9F Inc. (JFU) began trading on the Nasdaq on Thur 15 Aug 2019

9F Inc. operates an online consumer finance platform that integrates and personalizes financial services in the People's Republic of China.

• Sector: Technology
• Industry: Software—Application
• Full Time Employees: 1,649
• Founded in 2006
• Headquartered in Beijing, China.
• http://www.9fgroup.com

9F (JFU) priced 8.9 mln ADS IPO at $9.50, the high-end of the expected $7.50-9.50 range

CrossFirst Bankshares (CFB) began trading on the Nasdaq on Thur 15 Aug 2019

The company operates seven branches in Kansas, Missouri, Oklahoma, and Texas.

• Sector: Financial Services
• Industry: Banks—Regional
• Founded in 2007
• Headquartered in Leawood, Kansas
• http://www.crossfirstbank.com

CrossFirst Bankshares opened for trading at $14.50 after pricing IPO at $14.50

InMode Aesthetic Solutions (INMD) began trading on the Nasdaq on Thur 8 August 2019

• Israel-based InMode Aesthetic Solutions has raised $70 million on its Nasdaq initial public offering Thursday, listing under the ticker INMD. InMode priced its shares at $14, the lower end of its previously suggested range, giving the company a pre-money valuation of $378 million. The company closed 3.3 percent up on Friday.

InMode develops medical aesthetic devices using radio-frequency energy technology, which can penetrate subdermal fat. The company's main markets are Europe and the U.S., and it is headquartered in Lake Forest, California, with a research and development center in Israel and offices in Canada. For 2018, InMode reported revenues of $100 million, up from $53.5 million in 2017, and a net income of $22.3 million. For the first three months of 2019, the company reported revenues of $30.5 million and a net income of $10.16 million.

InMode was founded as Invasix in 2008 by CEO and chairman Moshe Mizrahi, one of the founders of Israel-based medical device company Syneron Medical Ltd. Prior to the IPO, Mizrahi held a 20.6% stake in InMode. In 2006, Mizrahi co-founded home aesthetics device developer Home Skinovations Ltd., which he previously tried to list three times, the latest earlier this year according to a $300 million company valuation.