The first week of December puts the IPO markets back into full swing as a slew of names rush to file and launch before the end of the year. This week we have five, potentially six names that will launch raising a total of around $750 million. If you like health care then there are three names for you this week.
First up is Odonate Therapeutics (ODT ) which is looking for $150 million this week. They will come to market with 5.8 million shares in the $24 - 27 range. The California based company is developing an oral chemotherapy drug which is focused on breast cancer as an option to the traditional approach. They claim that if testing goes as planned, this will allow patients to avoid some of the severe side effects seen in IV administered chemo.
Quanterix (QTRX ) is a smaller biotech offering, looking for $50 million this week. The company has the confidence of insiders. 60% of the offering, or about $30 million is already spoken for by insiders. With such little left coming to the market, this may be a more volatile opening. Also, if you understand the biotech industry then you will want to read more about the large obstacles this company still has to overcome to be successful.
Denali Therapeutics (DNLI ) is the last name in the space for the week. According to their website, the company develops treatments for neurodegenerative diseases and hopes to raise $150 million. The issue IPO investors may have is that the 8.3 million shares at a mid-point of $18 puts a $1.6 billion value on the company which many analysts are having a hard time with.
GigCapital (GIGU ) is a blank check company with management that has a decent track record. The company is focused on the semiconductor space and will look for $150 million this week. The CEO recently sold their previous company for $250 million in cash which was also in the same space. The company will offer 15 million shares at $10 to be a part of this venture.
Luther Burbank (LBC ) is a California commercial bank that focuses its business on single family and multifamily home loans. With over $5 billion in assets the company is looking to expand though investors will have to be comfortable with their super concentrated portfolio. Half of the loans they have outstanding are in California. They are offering 11.35 million shares at a range of $10.50 - $12.50.
CURO Group Holdings (CURO ) is the last on the list hoping to raise $100 million by offering 6.6 million shares at $14 - 16. The payday loan company works in the highly competitive, non-prime consumers market and is looking to expand.