After having just five IPOs this year, there are now three IPO's on the calendar for this week. This is the most IPO's set for release in one week in over 4 months.
Currently listed on the AIM (Alternative Investment Market) in London with a $2.1 billion market cap, Hutchison China MediTech (NASDAQ: HCM) is a Chinese pharmaceutical with a pipeline of oncology drugs. Hutchison is looking to raise $100 million, representing the second largest offering this year behind fellow Chinese biotech BeiGene (NASDAQ: BGNE), which raised $158 million and has traded up 16% since its offering.
The other two are smaller health care companies but at this point the IPO market will take what it can get.
Pre-revenue glucose device maker Senseonics Holdings (NASDAQ: SENS), is set to price its $60 million IPO. The Germantown, MD-based company plans to raise the $60 million by offering 18.2 million shares at a price range of $3.10 to $3.50. At the midpoint of the proposed range, Senseonics Holdings would command a fully diluted market value of $341 million.
Lastly we have Micro-cap biotech Spring Bank Pharmaceuticals (NASDAQ: SBPH) which is set to price its $40 million IPO. The Milford, MA-based company plans to raise the $40 million by offering 2.86 million shares at a price range of $13 to $15. Insiders intend to purchase $10 million worth of shares in the offering. At the midpoint of the proposed range, Spring Bank Pharmaceuticals would command a fully diluted market value of $132 million.