September's initial public offering market remained highly active throughout the end of September, which 11 new companies raising nearly $2.4 billion in their offerings last week. The market shows no signs of slowing either, with more companies coming down the pipeline in the next few weeks.
Last week's largest offering was the prescription drug price comparison platform GoodRx Holdings, Inc. (GDRX ), pricing well above its planned range at $33 per share to raise over $1.1 billion. The company is one of the leading platforms in its market, with 4.4 million monthly active customers, which impressed investors, leading to the stock finishing its first week up 11%.
Corsair Gaming, Inc. (CRSR ) was next, pricing its shares at the midpoint of its range at $17 each to raise $238 million. The gaming hardware manufacturer is a leading provide of gear for video game players and content creators and has benefitted from the pandemic's stay-at-home measures. Investors were excited about the new stock, with shares also ending the week up 11%.
Bentley Systems Inc. (BSY ) followed, pricing its shares above its already upwardly revised range at $22 per share, raising an offering of about $237 million. The construction software provider produces software for construction design and infrastructure operations. Investors saw long-term potential, with shares finishing the week up 9%.
PMV Pharmaceuticals, Inc. (PMVP ) came next, pricing its shares at the high end of its range at $18 each, raising an offering of near $212 million. The oncology-focused biotech has yet to start clinical trials, but the company has submitted an investigational new drug application to the U.S. Food and Drug Administration. PMVP plans to begin early stage clinical trials for its lead candidate in the second half of 2020. Investors were onboard, with the stock ending its first week up 108%.
Prelude Therapeutics Inc. (PRLD ) also priced its shares at the high end of its range at $19 per share to raise nearly $158 million in its debut. The biotech's lead candidate is currently in a Phase I clinical trial, with the company expecting data in the first half of 2021. Market participants also were excited about this biotech, leading the stock to ending its first week up 38%.
Taysha Gene Therapies, Inc. (TSHA ) had upsized its offering and priced its shares at the high end of its range at $20 per share, raising about $157 million. The biotech is currently in its preclinical stage, planning to start a Phase I/II trial for its lead candidate by the end of the year. The stock was met with lukewarm approval, leading shares to finish their first week up 2%.
VIA optronics AG (VIAO ) followed, pricing its shares at the low end of $15 each to raise nearly $94 million. The German providers of customized digital displays and other digital solutions did not impress market participants, leading the stock to finish its first week down 32%.
Graybug Vision, Inc. (GRAY ) came close behind, with the company upsizing its offering and pricing its shares at the midpoint of $16 each, raising $90 million in its debut. The biotech focused on ocular diseases is currently in Phase IIb clinical trials for its lead candidate, expecting to have data in the first have of 2021. Investors were also lukewarm on this stock, with shares ending the week up 3%.
Laird Superfood, Inc. (LSF ) priced its shares at the high end of its upwardly revised range at $22 per share, raising just over $58 million. The plant-based products producer has demonstrated strong growth in its non-clinical market. Investors were impressed, with shares ending the week up 20%.
Amesite Inc. (AMST ) followed, pricing its shares at the mid-point of its range at $5 each at raise $15 million in its public debut. The provider of AI-driven online learning products was seen as a good bet by market participants, with shares ending the week up 4%.
Greenwich LifeSciences, Inc. (GLSI ) was last, pricing its shares at the mid-point of its range at $5.75 each to raise $7 million in its public offering. The biotech is planning to begin its Phase III clinical trial for its lead candidate by the end of the year. Investors were left unimpressed, with shares ending the week down 13%.