Since the health of the IPO market is highly correlated to how the stock market is performing, it has been on a roll, churning out several successful deals such as Chewy (CHWY), CrowdStrike (CRWD), and Fiverr (FVRR). While Slack (WORK) wasn't a true IPO since it didn't offer any shares, it also had a strong debut, gaining as much as 9% versus its opening price.
Taking a look at this week, the momentum is expected to continue as activity accelerates further.
Once again, the healthcare sector is expected to take the lead with several pharmaceutical deals on the docket. The market has become saturated with new pharmaceutical IPOs over the past few years, so the easy money has already been made. However, there still have been plenty of big winners in the space this year, including Personalis (PSNL), which opened for trading last Thursday and launched higher by 70%.
Monday, June 24:
- No IPOs expected.
Tuesday, June 25:
- No IPOs expected.
Wednesday, June 26:
- Cambium Networks (CMBM): The provider of wireless broadband networking infrastructure solutions is expected to price its 5.8 mln share IPO within a range of $13-$15.
- Linx (LINX): The Brazil-based provider of cloud software for business management, e-commerce, and payment solutions is expected to price its 29.3 mln share ADS at about $9. Shares are already listed for trading on the Brazilian stock market.
Thursday, June 27:
- Adaptive Biotechnologies (ADPT): The biotech company focused on advancing immune-driven medicines is expected to price its 12.5 mln share IPO within a range of $15-$17.
- Change Healthcare (CHNG): The developer of a healthcare technology platform that provides data and analytics to improve the healthcare system is expected to price its 42.9 mln share IPO within a range of $16-$19.
- BridgeBio Pharma (BBIO): The pharmaceutical company developing medicines that target genetic diseases at the source is expected to price its 15.0 mln share IPO within a range of $14-$16.
- Morphic Holding (MORF): The biopharmaceutical company developing a pipeline of first-in-class oral small-molecule integrin therapeutics is expected to price its 5.0 mln share IPO within a range of $14-$16.
- Priam Properties (PRMI): The REIT focused on acquiring, owning, and managing multi-tenant office properties in urban Midwest and Southeast is expected to price its 9.0 mln share IPO within a range of $18-$20.
Friday, June 28:
- TheRealReal (REAL) The largest online marketplace for authenticated, consigned luxury goods is expected to price its 15.0 mln share IPO within a range of $17-$19.
- Karuna Therapeutics (KRTX): The clinical stage biopharmaceutical company developing therapies to address disabling neuro-psychiatric conditions is expected to price its 4.4 mln share IPO within a range of $15-$17.