Biotech Prime Medicine (NASDAQ: PRME) was the only initial public offering (IPO) to debut last week as several small issuers delayed their listings. The week ahead plans to be explosive, with highly-anticipated Intel's (NASDAQ: INTC) Mobileye Global expected to join public markets.
Here's last week's recap:
Prime Medicine, Inc. raised $175 million by pricing its upsized offering at its midpoint. The company is developing therapies using its Prime Editing technology--which Prime believes is more accurate and versatile that other types of gene editing. Prime's portfolio consists of preclinical candidates for 18 rare disease indications. The stock ended the week down 7%.
Here's what to look out for in the week ahead:
Mobileye Global, Inc. (NASDAQ: MBLY) plans to raise $943 million from 41 million shares offered between $18 to $20 each. The company claims to have pioneered advanced driver assistance systems (ADAS) technology, launching its EyeQ chips back in 2007. Mobileye current delivers its ADAS solutions to 13 of the world's largest automakers, including General Motors (NYSE: GM) and Ford (NYSE: F).
Three holdovers from last week are also expected to price in the week ahead: infectious disease biotech Alopexx, Inc. (NASDAQ: ALPX) plans to raise $17.25 million; isotope enrichment company ASP Isotopes, Inc. (NASDAQ: ASPI) plans to raise $16 million; and solid tumor biotech Intensity Therapeutics, Inc. (NASDAQ: INTS) plans to raise $13 million.