US IPO Week Ahead: Just 1 biotech is on the calendar in a slow week for the IPO market

After a busy week in the IPO market, just one biotech is scheduled to go public in the week ahead.

NASH biotech 89bio (ETNB) plans to raise $85 million at a $225 million market cap. The company’s target indication represents a multi-billion-dollar market with no FDA-approved therapy; consequently, there are many other NASH-focused biotechs, most of which are later-stage. NASH biotechs as a whole have not done well, save for June IPO Akero Therapeutics (AKRO; +28% from IPO). A holdover from last week, the company delayed its offering due to a minor issue with its auditor’s disclosures to the SEC.

A few companies in the IPO pipeline could launch this week, including mortgage lender Velocity Financial (VEL), social media manager Sprout Social (SPT), and Chinese consumer debt collector YX Asset Recovery (YX.RC).

Street research for BellRing Brands (BRBR) and Innate Pharma (IPHA) is expected on Monday, and lock-up periods will be expiring for five companies: Applied Therapeutics (APLT), Postal Realty Trust (PSTL), Avantor (AVTR), Fastly (FSLY), and Luckin Coffee (LK).

U.S. IPO Calendar
Issuer Business Deal Size Market Cap Price Range Shares Filed Top Bookrunners
89bio (ETNB)San Francisco, CA $85M $225M $16* 5,304,687* BofA Leerink
Phase 1 biotech developing therapies for NASH and other metabolic diseases.

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IPO Market Snapshot

US IPO Week Ahead: Just 1 biotech is on the calendar in a slow week for the IPO market

Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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