The initial public offering (IPO) market remains quiet heading into the end of the year, with only one company completing its offering last week and just one small deal planned for the short Thanksgiving-holiday week ahead.
Here's last week's recap:
Acrivon Therapeutics, Inc. (NASDAQ: ACRV) priced well below its range to raise $94 million in its debut. The biotech is developing precision oncology medicines. While its lead candidate was shelved by Eli Lilly and Company (NYSE: LLY) in 2019, it is currently in a potentially registrational Phase 2 trial studying multiple tumor types. The stock ended the week up 26%.
Listings to look out for in the week ahead:
Adamas One Corp. (NASDAQ: JEWL) plans to raise over $38 million from 7 million shares priced between $4.50 to $5 each. The lab-grown diamond producer intends to sell finished diamonds for jewelry and unfinished diamond materials for industrial use. The company only began generating revenue this year.