Going into the first full week of July we will have two offerings. The focus this week will be in the healthcare space and, together they hope to raise $134 million. These names both had hoped to launch last month but were delayed until this week.
First up, and the largest of the week is Akcea Therapeutics (NASDAQ: AKCA) which, according to their filing is a "late stage biotech company that is developing therapies for rare lipid disorders." Based out of Cambridge, Massachusetts the company has completed their Phase 3 trials and hopes that with a successful IPO they can focus on broader cardiovascular diseases. This week they will once again be trying to launch their deal at a valuation of $692 million. They have filed to raise $125 million by offering 9.6 million shares at a range of $12 - $14, but as long as they raise $100 million then their partner will invest another $50 million in a private placement.
The second, and smallest offering this week is Co-Diagnostics (NASDAQ: CODX) which is also a biotech company, but is focused on diagnostic equipment for DNA tests. The "pre-revenue" company will be looking for $9 million by offering 1.3 million shares at a range of $6.35 - $6.75. They claim that with this launch they should be able to start generating revenue later this year.