Two health care deals are on the IPO calendar to raise a combined $134 million in the week ahead. Both companies had originally planned to price in the final week of June.
| US IPO Calendar | ||||
| Issuer Business |
Symbol Exchange |
Deal Size($m) Market Cap($m) |
Price Range Shares Filed |
Bookrunners |
| Akcea Therapeutics Cambridge, MA |
AKCA Nasdaq |
$125 $692 |
$12 - 14 9,620,000 |
Cowen & Company, Stifel, Wells Fargo |
| Late-stage biotech developing therapies for rare lipid disorders. | ||||
| Co-Diagnostics Salt Lake City, UT |
CODX Nasdaq |
$9 $75 |
$6.35 - 6.75 1,300,000 |
WallachBeth Capital, Network 1 Financial |
| Commercializing diagnostic equipment for DNA tests. | ||||
Akcea Therapeutics (AKCA), which was originally scheduled for June 29, is now hoping to price its $125 million IPO in the week ahead. Akcea, a spinoff of Ionis Pharmaceuticals (Nasdaq: IONS; market cap $6.4 billion), is a late-stage biotech developing therapies for lipid disorders. The Cambridge, MA-based company has completed a Phase 3 trial for a rare lipid disease, and plans to leverage a successful launch to target broader cardiovascular diseases. Additionally, partner Novartis will invest up to $50 million in a concurrent private placement at the IPO price if Akcea raises over $100 million in its offering.
Co-Diagnostics (CODX), which is commercializing diagnostic equipment for DNA tests, is also expected to price a $9 million deal. The Salt Lake City, UT-based company plans to begin generating revenue this year.
More IPOs on the horizon
While the first two weeks of July show little activity, a number of expected launches could build out the back half of the month. Companies that could price in the coming weeks include yoga studio chain YogaWorks (YOGA), marketing firm Advantage Solutions (ADV) and online real estate company Redfin (RDFN).
IPO Market Snapshot
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