Week ahead: IPO calendar fills up

After seeing just five IPOs this year, there are now three on the calendar for the week ahead. 

The increased activity comes on the heels of IPO index outperformance. Since the February 11 lows, the IPO index has nearly doubled the S&P, returning 19.3% versus 10.6%. 

Another large Chinese biotech...
Currently listed on the AIM in London with a $2.1 billion market cap, Hutchison China MediTech (HCM) is a Chinese pharmaceutical with a pipeline of oncology drugs. Hutchison is looking to raise $100 million, representing the second largest offering this year behind fellow Chinese biotech BeiGene (BGNE), which raised $158 million and has traded up 16% since its offering. 

...and two small healthcare co's
Pre-revenue glucose device maker Senseonics Holdings (SENS), backed by NEA, is set to price its $60 million IPO. Micro-cap biotech Spring Bank Pharmaceuticals (SBPH) is set to price its $40 million IPO.

Renaissance Capital's IPO Calendar - Week of 3/14/2016
Issuer Business	Symbol Exchange	Deal Size $mil	Price Range Shares Filed	Lead Manager(s)
Hutchison China MediTech Hong Kong, Hong Kong	HCM Nasdaq	$100	$16.33 6,123,698	BofA Merrill Lynch Deutsche Bank
CK Hutchison-backed pharmaceutical with a pipeline of oncology candidates.
Senseonics Holdings Germantown, MD	SENS NYSE MKT	$60	$3.10 - $3.50 18,200,000	Leerink Partners Canaccord Genuity
Developing a long-lasting implantable glucose monitor for diabetics.
Spring Bank Pharmaceuticals Milford, MA	SBPH Nasdaq	$40	$13 - $15 2,858,000	William Blair Wedbush PacGrow
Early-stage biotech developing targeted therapies for viral diseases.

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IPO Pipeline Update
Corvus Pharmaceuticals (CRVS), co-founded by former Pharmacyclics executives, is expected to price its $75 million IPO the week of March 21; insiders have indicated interest for $25 million. BATS Global Markets (BATS) updated financials ahead of its estimated $300 million IPO. There were no new filings this week.

IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is down 10% year-to-date, compared to -1% for the S&P 500. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Synchrony Financial (SYF), Alibaba (BABA) and Citizens Financial Group (CFG). The Renaissance International IPO Index is down 6% year-to-date, compared to -1% for ACWX. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF Holdings include NN Group and Recruit Holdings. To find out if this is the best ETF for you, visit our IPO Investing page