July 2018’s IPO calendar is arriving right on schedule. Last week there was nothing on tap. This week 11 deals are set to be priced and next week’s volume is already building. The lack of IPO traffic after the July 4th holiday has become a seasonal factor.
“The IPO Buzz” outlined this trend last week. Over the last 10 years from 2008 through 2017, the earliest date that an IPO started trading after the July 4th holiday was on July 7, 2016. The longest wait after the holiday was in 2009 when the first IPO began trading on July 30, 2009.
These records point to July 15th – or around mid-month – as the date when the first IPO typically started trading after the Fourth of July holiday.
So here we are: The curtain on this July’s IPO show is going up right on time.
This year the IPO gods performed their magic.
This July’s IPO production line includes 11 deals this week and as many as four for the following week. If all of those IPOs get priced, that would push this July’s volume past the median average for July of 13.5 deals over the past 10 years.
We will find out if there are more July deals on Monday morning, July 16, when the U.S. Securities and Exchange Commission’s filing window opens again for business.
This week’s IPO calendar lists 11 deals expecting to raise over $1.1 billion. Seven are health-care companies, two are banks, one is an OEM for the energy industry and the other is a cannabis producer.
Accent on Health Care
Allakos (ALLK proposed), based in San Carlos, California, is a clinical-stage biotech company developing therapy for treating eosinophil and mast cell-related diseases. Note: Insiders have issued indications of interest to purchase up to $35 million, or 36.5 percent of the offering of $96 million. Also another insider has issued an interest in purchasing about $10 million in a private placement.
Constellation Pharmaceuticals (CNST proposed), based in Cambridge, Massachusetts, is a clinical-stage biopharmaceutical company which uses epigenetics, a regulatory system that controls gene expression by modifying chromatin, to develop treatments for prostate and other cancers. Note: Insiders have issued indications of interest to purchase up to $30 million, or 37.5 percent of the offering of $80.1 million.
Crinetics Pharmaceuticals (CRNX proposed), based in San Diego, California, is a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. Note: Insiders have issued indications of interest to purchase up to $30 million, or 37.5 percent of the offering of $80 million.
DERMAdoctor (DDOC proposed), based in Kansas City, Missouri, is a skincare company primarily focused on the creation of products that are designed to target common skin concerns, ranging from aging and blemishes to dry skin, perspiration and keratosis pilaris.
Establishment Labs Holdings (ESTA proposed), based in Alajuela, Costa Rica, is a medical technology company providing silicone breast implants for the reconstruction market. Its line of silicone gel-filled breast implants, branded as Motiva Implants, is the centerpiece of its MotivaImagine medical technology platform.
Replimune Group (REPL proposed), based in Woburn, Massachusetts, is a clinical-stage biotech developing oncolytic immunotherapy for cancer patients. Note: Insiders have issued indications of interest to purchase up to $40 million, or 40 percent of the offering of $100 million.
Rubius Therapeutics (RUBY proposed), based in Cambridge, Massachusetts, is pioneering the development of a new class of medicines, Red Cell Therapeutics, or RCTs. The company believes that its RCTs will provide life-changing or life-saving benefits for patients with severe diseases across multiple therapeutic areas.
(For more information about these companies and others on the IPO calendar, please check the profiles found on IPOScoop.com’s website.)
Banking on the West
Coastal Financial (CCB proposed), based in Everett, Washington, operates 13 full-service banking locations, including 10 in Snohomish County.
First Western Financial (MYFW proposed) based in Denver, offers services through a branded network of boutique private trust bank offices in affluent and high-growth markets in 13 locations across Colorado, Arizona, Wyoming and California.
AFG Holdings (AFGL proposed), based in Houston, is an oil and gas services company that specializes in pressure pumping and managed pressure drilling.
Tilray (TLRY proposed), based in Nanaimo, British Columbia, produces medical cannabis in Canada. The company supplies high-quality cannabis products in Canada as well as in Argentina, Australia, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand and South Africa through agreements with established pharmaceutical distributors.
July’s Final Week
This brings us to the week of July 23rd – the last week of the month. The IPO Calendar has two IPOs scheduled for next week. And there were two late filings on Friday afternoon without pricing dates. Each could very well find themselves on next week’s IPO Calendar come Monday morning.
It’s worth remembering: Anything can happen when the SEC’s filing window re-opens for business on Monday morning, July 16th.
Disclosure: Neither the author nor anyone else on the IPOScoop.com staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and IPOScoop.com staff do not issue advice, recommendations or opinion.