This week is shortened because of the independence day holiday on Monday. In this shortened week we have only two potential IPO's. Both of them were previous names that chose not to go public two weeks ago. They both have delayed their IPO's for the last two weeks. Now, normally this could be taken as bad news but we give it a pass because of the increased filing activity seen recently. As of now analysts confidently expect July to see a pick up in IPO's .
Tactile Systems Technology (NASDAQ: TCMD), which has been listed as day to day for two weeks, is expected to raise $60 million by offering 4 million shares at a range of $14-16. The company markets pneumatic compression devices for lymphedema and, unlike the year's other four medical device IPOs, Tactile actually has meaningful sales growth (up 35% in the most recent quarter) . The company has also been profitable for the last 3 years in a row. Analysts are on record as confirming that it "must continue to grow sales of its core Flexitouch system while keeping marketing spend in check as it navigates expiring patents and a negative reimbursement ruling from Medicare."
Gemphire Therapeutics (NASDAQ: GEMP) plans a $45 million IPO by selling 3.75 million shares at a range of $11-16. The company has delayed its IPO for almost two weeks now. Analysts claim that the delay may have been partly driven by its rival Esperion Therapeutics falling over 35% in the last week after regulatory roadblocks changed its timeline to commercialization by several years. Led by the former CEO of ProNAi Therapeutics (NASDAQ: DNAI), Gemphire is developing a drug first discovered in 1998, which it believes can be an effective treatment with statins for high cholesterol. Insiders plan to invest $10 million on the IPO which equates to 22% of the deal.