The initial public offering (IPO) market continued its hot streak moving into February, with 14 traditional IPOs and 27 special purpose acquisition companies (SPAC) hitting the market for the busiest week of the year yet. The week was dominated by biotech companies, with all offering raising a total over $13 billion.
In the biggest deal of the week, TELUS International Inc. (TIXT ) priced its upsized offering at the high end of its range at $25 per share to raise $925 million. The IT end-to-end customer experience and digital technology solutions and services provider is used by over 600 companies worldwide, with TELUS growing at a rapid pace. The company finished 26% higher for the week.
Last week's best performer was Vor Biopharma Inc. (VOR ) also priced its upsized offering at the high end of its range at $18 per share to raise nearly $177 million. The cell therapy focused biotech plans to begin its first-in-human clinical trials for its lead engineered hematopoietic stem cells treatment candidate in the first half of 2021. The stock finished the week up 108%.
Here's the rest of the week in order of offering amount:
Sana Biotechnology, Inc. (SANA ) priced its upsized offering above the range at $25 per share to raise about $558 million. The cell therapy focused biotech is developing treatments for oncology, diabetes, central nervous system disorders, cardiovascular disease, and genetic diseases. The stock finished up 57%.
Atotech Ltd (ATC ) priced its downsized offering below the range at $17 each to about $498 million. The German chemical provider offer electroplating solutions for circuit boards and general metal finishing products. Despite the downsizing, the company finished the week up 12%.
ON24 INC. (ONTF ) priced its offering at the high end at $50 per share to raise over $428 million. The cloud-based virtual communications platform to over 1,900 business-to-business companies. The company finished up 38%.
Immunocore Holdings plc (IMCR ) priced its upsized offering above the range at $26 each to raise over $258 million. The British cell therapy focused biotech plans to submit a Biologics License Application to the U.S. Food and Drug Administration for its lead candidate in the third quarter of 2021. The stock finished up 66%.
Bolt Biotherapeutics, Inc. (BOLT ) priced its upsized offering above its upwardly revised range at $20 per share to raise $230 million in its debut. The immunotherapy-focused biotech is expected to launch a Phase II clinical trial for its lead candidate this year. The company ended the week up 61%.
Pharvaris N.V. (PHVS ) priced its upsized offering above the range at $20 per share ato raise over $165 million. The Dutch rare disease forced biotech's lead candidate is currently in Phase I clinical trials. The stock finished up 45%.
Lucira Health, Inc. (LHDX ) priced its upsized offering at the high end of its range at $17 per share to raise $153 million. The COVID-19 test developer received an emergency use authorization from the F.D.A. back in November for its home molecular nasal swab COVID-19 diagnostic test. The stock finished the week up 47%.
Sensei Biotherapeutics, Inc. (SNSE ) priced its upsized offering above its range at $19 each to raise just over $133 million. The immunotherapy focused biotech currently has a lead candidate in a Phase I/II clinical trial. The stock ended the week up 18%.
Terns Pharmaceuticals, Inc. (TERN ) priced its upsized offering at the high end of its range at $17 each to raise over $127 million. The NASH treatment focused biotech is moving into Phase II clinical trials for its lead candidate. The stock finished up 8%.
Landos Biopharma, Inc. (LABP ) priced its offering at the midpoint of its range at $16 each to raise $100 million. The autoimmune focused biotech currently has a lead candidate is expected to enter a Phase III trial for US and a Phase II trial for CD in the first half of the year. The stock finished the week down 31%.
Angion Biomedica Corp. (ANGN ) priced its offering at the high end of its range at $16 each to raise $80 million. The small molecule therapy focused biotech's lead candidate is currently in Phase III clinical trials. The company finished up 6%.
Evaxion Biotech A/S (EVAX ) priced its upsized offering at the low end of its range at $10 each to raise $30 million. The Danish immunotherapy focused biotech currently has two lead candidates in Phase I/IIa clinical trials. The company finished the week down 1%.
27 SPACs raised $9.2 billion last week, led by Jaws Mustang Acquisition Corp. (JWSMU ), who raised $900 million with focus on acquiring a business based in North America or Europe.
