IPOs this week : March 18 - 22, 2019

IPO pricings: 

• Up Fintech (TIGR) is expected to price its offering on March 19. 
• In a notable deal for the apparel sector, Levi Strauss (LEVI) is expected to price its IPO on March 20. The iconic company is offering 36.7M shares in an expected range of $14 to $16. The timing could be good for the Levi Strauss IPO after American Eagle Outfitters (NYSE:AEO) and Abercrombie & Fitch (NYSE:ANF) both cited strong demand for denim products in their Q4 earnings reports. 
• Alight (ALIT) is pricing its IPO on March 21, 
• while across the Pacific, luxury auto specialist Shanghai Dongzheng Automotive is due to price 533M shares in an expected range of HK$4.20 to HK$6.30. 

IPO lockup expirations: 

• Aptorum (NASDAQ:APM) and X Financial (NYSE:XYF) on March 18; 
• Bank7 (NASDAQ:BSVN), Eventbrite (NYSE:EB) and Elanco Animal Health (NYSE:ELAN) on March 19; 
• Farfetch (NYSE:FTCH), Y-mAbs Therapeutics (NASDAQ:YMAB) and Golden Bull (NASDAQ:DNJR) on March 20.

Elanco Animal Health (ELAN) reported earnings on Wed 6 Feb 2019 (b/o)

ticker: ELAN

** charts before earnings **

** charts after earnings **

Elanco Animal Health beats by $0.02, reports revs in-line; reaffirms FY19 EPS, revs guidance

• Reports Q4 (Dec) earnings of $0.29 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.27; revenues rose 6.0% year/year to $799.3 mln vs the $804.07 mln S&P Capital IQ Consensus.
• Gross margin, as a percent of revenue, was 48 percent, an increase of 200 basis points period over period. The gross margin increase was primarily due to favorable product mix and non-recurring costs in 2017 associated with the unwinding of purchase accounting inventory adjustments, partially offset by 200 basis points of unfavorable impact from foreign exchange rates.
• Co reaffirms guidance for FY19, sees EPS of $1.02-1.12, excluding non-recurring items, vs. $1.10 S&P Capital IQ Consensus; sees FY19 revs of $3.1-3.16 bln vs. $3.15 bln S&P Capital IQ Consensus.

Elanco Animal Health (ELAN) : 2-week performance

• 2 weeks

ticker: ELAN

•  4 weeks 

Elanco Animal Health (ELAN) began trading on the NYSE on 20 Sept 2018

Elanco Animal Health Inc.  (ELAN) shares soared more than 35% Thursday in their trading debut, after the company priced the stock above its price range. Elanco, a spinoff from Eli Lilly & Co. (LLY) was founded in 1954.

• Sector: Healthcare
• Industry: Drug Manufacturers - Specialty & Generic
• Full Time Employees: 4,500
• HQ: Greenfield, Indiana
• http://www.elanco.com

ticker: ELAN

Offer price: 62.9 mln share IPO at $24 per share, above the expected $20-23 per share range
Opened at $32.25
Offer size: $1.7 billion
Goldman Sachs. J.P. Morgan and Morgan Stanley were book-running managers on the deal.

Kindred Biosciences (KIN) began trading on the NASDAQ on 12 December 2013

• Note: Aug 30, 2021 — Elanco (ELAN) acquired all outstanding stock of Kindred Biosciences at a price of $9.25 per share, or approximately $444 million.  

Kindred Biosciences is a biopharmaceutical company developing innovative biologics focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company's strategy is to identify targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated targets for dogs and cats. KindredBio has a deep pipeline of novel biologics in development across many therapeutic classes, alongside state-of-the-art biologics manufacturing capabilities and a broad intellectual property portfolio. 

• Founded by Richard Chin and Denise M. Bevers on September 25, 2012 
• Headquartered in Burlingame, CA
  
• www.kindredbio.com

Kindred Biosciences, Inc., a clinical-stage biopharmaceutical company, focuses on the development of therapies for pets. The company provides small molecules and biologics that are in various stages of development for a range of indications in dogs, cats, and horses. Its products include CereKin, an oral interleukin-1 beta inhibitor for osteoarthritis pain and inflammation in dogs; AtoKin, a beef-flavored formulation of fexofenadine for atopic dermatitis in dogs; KIND-009, an oral analgesic formulation of flupirtine to manage post-operative pain in dogs and cats; KIND-007, an inhibitor of Bruton's tyrosine kinase; and KIND-006, an agent for gastrointestinal diseases in cats. The company's products also comprise KIND-502, a biologic for allergic and immune-mediated diseases; KIND-506, a biologic for inflammatory and autoimmune diseases; KIND-507, a biologic for immune-mediated diseases; KIND-504, a cancer vaccine; and KIND-501, an antiangiogenic biologic for cancer in dogs. Kindred Biosciences, Inc. was founded in 2012 and is headquartered in Burlingame, California.

Address

Suite 226, 1499 Bayshore Highway
SAN FRANCISCO, CA 94127
United States

Website 

www.kindredbio.com