GDRX : 2-month performance

• Concerns about industry competition weigh on the stock and on drug store names generally after Amazon (AMZN) announced the launch of Amazon Pharmacy, which allows customers to complete pharmacy transactions digitally and which offers unlimited, free two-day delivery and certain savings perks for orders placed by Prime members. Falls to record lows.

GoodRx (GDRX) began trading on the Nasdaq on Wed 23 Sept 20

GoodRx Holdings, Inc., through its subsidiaries, offers information and tools that enable consumers to compare prices and save on their prescription drug purchases in the United States.

• Sector(s): Healthcare
• Industry: Health Information Services
• Full Time Employees: 756
• HQ: Santa Monica, California
• https://www.goodrx.com

 

 

Co-founders Doug Hirsch and Trevor Bezdek

CNBC 9/23/20

IPOs this week : September 21 - 25, 20 (wk 39)

IPOs expected to price

• Corsair Gaming (CRSR), GoodRx (NASDAQ:GDRX), RiverNorth Flexible Income Fund (NYSE:RFM) and Amesite Operating (AMST). 

Of the bunch, Corsair may generate the most interest with the gaming sector heating up. The California-based provider of gaming gear and content is aiming to sell up to $252M worth of shares to value the company at up to $1.65B. 

IPO lockup expirations

Also, keep an eye on TELA Bio (NASDAQ:TELA), with 34% of its outstanding float being freed up through the expiration of an IPO lock-up period. 

Across the Pacific in Hong Kong, secondary share offerings are expected to start trading for ZTO Express (NYSE:ZTO), Zai Lab (NASDAQ:ZLAB) and Baozun (NASDAQ:BZUN), while SoftBank (SFTNY) aims to hand over shares between September 23-25 for its secondary offering of its telcoms business.

GoodRx (GDRX) files registration statement on Form S-1 relating to a proposed IPO

GoodRx, which collects data on drug prices and discounts to save consumers money, is preparing for a possible initial public offering.

• The number of shares to be offered and the price range for the proposed offering have not yet been determined.
• GoodRx intends to list its Class A common stock on the NASDAQ Global Select Market, under the ticker symbol GDRX.

The Santa Monica, California startup was founded in 2011. The GoodRx platform gathers information on retail drug prices from more than 70,000 pharmacies. It also provides coupons to help consumers with the high costs of prescription drugs. GoodRx has raised $1.5 million in funding, according to CrunchBase. Silver Lake invested in 2018, giving the company a $2.8 billion valuation at the time. Francisco Partners and Spectrum Equity invested in 2015.

GoodRx is one of several startups looking to disrupt the $400 billion pharmacy industry. NowRx, which provides same-day prescription delivery, raised $20 million in a B round of funding last month. Capsule Pharmacy also offers same-day delivery and collected $200 million in Series C funding last year.

The possible GoodRx offering comes during a resurgence in the IPO market. Covid-19 caused a three months pause in new issues earlier this year. This, along with low interest rates, has helped create pent-up demand for offerings. Several companies have seen their IPOs perform well including Lemonade (Ticker: LMND), nCino (NCNO) and ZoomInfo (ZI).