Busiest IPO Week of the Year: 14 Companies on the Calendar

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Four of last week’s six initial public offering (IPO) candidates successfully launched into the public equity markets, but the reception was decidedly cool. The best performer was a biotech firm that had changed its focus and cut its IPO in half.

In the week ahead there are 14 companies planning to begin trading in the public markets, including 10 biotechs, a natural gas midstream company, a financial services firm, a restaurant chain, and a REIT.

IPO ETF manager Renaissance Capital reported that 49 IPOs have priced in the U.S. so far this year, down 50% from a year ago. Total proceeds raised through May 1st equaled $8 billion, down 58% compared with the same period in 2014. Of the 49 IPOs that have gone off this year, 22 have come from the healthcare sector. Last year’s IPO total came in at $85.2 billion, the highest total in the past ten years. Renaissance Capital does not include “best efforts” or blank check companies in its totals.

Here are the 14 IPOs scheduled for the week beginning May 4th.

OpGen Inc. is an early commercial stage healthcare company using molecular testing and bioinformatics to combat multi-drug resistant bacterial infections and is one of the two companies that delayed its IPO from last week. The company plans to offer 2.9 million units in an expected price range of $5.50 to $6.50 to raise $17 million on a market cap of around $64 million. Each unit comprises one share of common stock and one Offered Warrant to purchase one share of common stock at 110% of the IPO price. Sole bookrunner for the offering is Maxim Group LLC and the co-manager is National Securities. Units are expected to price on Monday and begin trading Tuesday on the Nasdaq under the ticker symbol OPGNW and shares will trade under the symbol OPGN.

CoLucid Pharmaceuticals Inc. is a Phase 3 clinical stage biopharmaceutical company developing a small-molecule acute treatment for migraine headaches and is the other IPO that was delayed from last week. The company plans to offer 5.4 million shares in an expected price range of $13 to $15 to raise $75 million on a market cap of $210 million. Joint bookrunners for the offering are Piper Jaffray and Stifel. Co-managers are William Blair and Ladenburg Thalmann & Co. No date has been stated for when the shares are expected to price or begin trading. Shares will be listed on the Nasdaq under the ticker symbol CLCD.

Gelesis Inc. is biotech firm products to induce weight loss and improve glycemic control in overweight and obese patients, including pre-diabetes and type 2 diabetes patients. The company plans to offer 4 million shares in an expected price range of $12 to $14 at a market cap of around $179 million. Joint bookrunners for the offering are Piper Jaffray, Stifel, and Guggenheim Securities. Shares are scheduled to price on Tuesday and to begin trading Wednesday on the Nasdaq under the ticker symbol GLSS.

MultiVir Inc. is a clinical-stage gene therapy company developing a pipeline of products for the treatment of multiple oncological indications. The company plans to offer 4.6 million shares in an expected price range of $12 to $14, raising about $60 million at a market cap of $193 million. Sole bookrunner for the offering is RBC Capital Markets, and co-managers include Nomura Securities, Cantor Fitzgerald, and LifeSci Capital. Shares are set to price on Tuesday and to begin trading Wednesday on the Nasdaq under the ticker symbol MVIR.

Adaptimmune Therapeutics plc is a U.K.-based clinical-stage biopharmaceutical company focused on novel cancer immunotherapy products. The company plans to offer 9.4 million American Depositary Shares (ADS) in an IPO price range of $15 to $16. Each ADS comprises 6 ordinary shares. The company plans to raise $150 million at a market cap of $1.1 billion. Joint bookrunners for the offering are BofA/Merrill Lynch, Cowen & Co., and Leerink Partners. Co-manager is Guggenheim Securities. The ADSes are scheduled to price on Wednesday and to begin trading Thursday on the Nasdaq under the ticker symbol ADAP.

aTyr Pharma Inc. is engaged in the discovery and clinical development of innovative medicines for patients suffering from severe, rare diseases using a set of physiological modulators known as physiocrines. The company plans to offer 5.4 million shares in an expected price range of $13 to $15 to raise $75 million at a market cap of about $316 million. Joint bookrunners for the offering are J.P. Morgan and Citi. Co-managers are BMO Capital Markets and William Blair. Shares are expected to price on Wednesday and to begin trading Thursday on the Nasdaq under the ticker symbol LIFE.

Collegium Pharmaceutical Inc. is a specialty pharmaceutical company developing and planning to commercialize next-generation abuse-deterrent products. The company plans to offer 5.8 million shares in an IPO price range of $12 to $14 to raise about $75 million with a market cap of $256 million. Joint bookrunners for the offering are Jefferies & Co. and Piper Jaffray. Co-managers are Wells Fargo Securities and Needham & Co. Shares are scheduled to price on Wednesday and to begin trading Thursday on the Nasdaq under the ticker symbol COLL.

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