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US IPO Week Ahead: One biotech IPO scheduled for the short holiday week

As always, the US IPO market begins the third quarter with a hush, as millions of Americans turn their attention from the pop of IPOs to the pop of fireworks. Just one biotech, a holdover from last week, is on the IPO calendar to raise $125 million in the week ahead.

US IPO Calendar - Week of July 3
IssuerBusiness SymbolExchange Deal Size($m)Market Cap($m) Price RangeShares Filed Bookrunners
Akcea TherapeuticsCambridge, MA AKCANasdaq $125$692 $12 - 149,620,000 Cowen & Co.StifelWells Fargo
Late-stage biotech developing therapies for rare lipid disorders.

Akcea Therapeutics ( AKCA ), which was originally scheduled to price this past Thursday, will again attempt its $125 million IPO in the week ahead. Being spun out of Ionis Pharmaceuticals (Nasdaq: IONS), Akcea has completed a Phase 3 trial for a rare lipid disease, hoping that a successful launch will enable it to target broader cardiovascular diseases. Partner Novartis will invest up to $50 in a concurrent private placement at the IPO price, but only if Akcea raises over $100 million in its offering.

Possible 3Q17 IPOs

July is often a relatively active month for IPO pricings. While the 2Q ended with a below-average number of IPOs on file, that number can quickly change, and our 2Q17 US IPO Review contains a number of deals we expect to launch in the coming months. These include US airline Frontier Group ( FRNT ), yoga studio chain YogaWorks ( YOGA ) and marketing firm Advantage Solutions (ADV). Online real estate company Redfin (RDFN) filed for a $100 million IPO on Friday, ahead of a possible July listing.

Find out why institutional investors rely on Renaissance Capital's Pre-IPO Research for these IPOs. Follow us on Twitter ( @IPOtweet ) for IPO news as it happens and register for our updates on the IPO market.

IPO Market Snapshot

The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is up 20.7% year-to-date, ahead of the S&P 500, which is up 8.3%. Renaissance Capital's IPO ETF ( IPO ) tracks the index, and top ETF holdings include Ferrari (RACE) and First Data (FDC). The Renaissance International IPO Index is up 15.8% year-to-date, while the ACWX is up 13.2%. Renaissance Capital's International IPO ETF ( IPOS ) tracks the index, and top ETF holdings include Covestro and Worldpay . To find out if this is the best ETF for you, visit ourIPO Investing page . The article US IPO Week Ahead: One biotech IPO scheduled for the short holiday week originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

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


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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