While there are plenty of IPOs on the schedule this week, it's likely that we'll see some of these names hold off. The market's recent volatility has taken attention away from the IPO markets and last week we saw a handful of names decide to wait it out. This week there are six more names on the books, but we could also see some of last week's names jump out there as well should things look a little more favorable in the markets.
The largest offering of the week is a UK-based company called Orchard Therapeutics (ORTX ). This IPO has been put together by some bigger names, like JP Morgan (JPM ) and Goldman Sachs (GS ), and will be seeking $200 million. The company is working on stem cell therapies to treat rare diseases and will be offering 13 million shares at a range of $14 - 16.
Next up is Axonics Modulation (ANXX ), which is working on a neural implant for those suffering from an overactive bladder or incontinence. They hope to raise $100 million by offering 6.6 million shares at a range of $14 - $16.
Twist Bioscience (TWST ) is another biotech coming to market this week. It's focused on DNA-based synthetic gene production for rare diseases. They'll be offering 5 million shares at a range of $14 - 16 in hopes of raising $75 million.
Leaving the biotech space for a moment, we have a community bank out of Florida. BankFlorida (BFL ) and it's one branch will be looking for $65 million this week by offering 6.2 million shares at a range of $10 -$11. The proceeds of a successful IPO will go to the management team, which has plans to expand the bank.
There are two smaller biotech offerings left on the calendar this week. The first is Eton Pharmaceuticals (ETON ) which is looking for $18 million by offering 3 million shares at $6. The other is Tixiana Life Sciences (TLSA ) which is focused on Crohn's disease. They will offer 1.1 million shares at $9.90.
