The initial public offering (IPO) market lit up last week as eight companies entered the U.S. stock market. With multiple health care companies and other businesses that benefit from consumers staying at home, last week's IPO market showed success of growing trends following the coronavirus's impact on consumer spending and social habits. The week ahead also plans to follow the new trend, with five health care related companies set to price.
Last week's IPO market was led by the debut of online car marketplace Vroom, Inc.
Last week also saw the introduction of five health care related stocks, with focus mainly on early-stage biotechs. Avidity Biosciences, Inc.
For the week ahead, Royalty Pharma plc plans to raise over $2.2 billion from 70 million shares priced in the range of $25-$28 each. The company is a global leader in pharmaceutical royalty agreements and is highly profitable.
Forma Therapeutics Holdings, Inc. plans to raise over $243 million fro 11.7 million offered shares priced between $16-$18. The phase 1 hematology and oncology biotech currently has licensing agreements with Bristol-Meyer Squibb
Genetron Holdings Ltd. plans to raise over $201 million for 13 million share offered in the range of $11.50-$13.50. The company is a big player in China's cancer diagnosis market.
Repare Therapeutics, Inc. plans to raise over $152 million from 7.35 million offered shares priced between $16-$18. The oncology-focused biotech is using its CRISPER-enabled SNIPRx platform to discover and develop cancer therapies.
PROGENITY, Inc. plans to raise over $122 million for 6.7 million shares offered between $14-$16 each. The company providers molecular diagnostics with a focus on prenatal, pregnancy, and hereditary testings.