Summit, which is developing novel treatments for a genetic disorder and a bacterial infection, filed on Friday with the SEC to raise up to $40 million in an initial public offering. The Abingdon, United Kingdom-based company, which was founded in 2003, plans to list on the NASDAQ under the symbol [SMMT]. Summit initially filed confidentially on December 4, 2014. JMP Securities and Oppenheimer & Co. are the joint bookrunners on the deal. No pricing terms were disclosed....more

Keywords: SMMT, Biotech

1/30/15 Analyst IPO Blog

Ten IPOs raised $1.2 billion in a week dominated by eight health care IPOs and distinguished by two deals that gained over 100% on the first day - fast casual burger chain Shake Shack and gene therapy biotech Spark Therapeutics. There were more health care IPOs this past week than any week in 2014, a year that had over 100 from the sector. With 14 IPOs to date, January 2015 fell short of last year's 17 deals, but remained higher than the 10-year historical average of 9 during the first month. On next week's more


1/30/15 Analyst IPO Blog

Shake Shack ([SHAK]) and Spark Therapeutics ([ONCE]) join a group of 15 IPOs since 2013 that have popped 100% or more on the first day. 12 of the 13 other IPOs fell after the first day, though most of them still trade above the original offer price. The list includes three other fast casual restaurant concepts and four other small health care companies. Can Shake Shack and Spark maintain their valuations? ...more

Keywords: SHAK, ONCE

1/30/15 Analyst IPO Blog

As expected with such high investor demand, Shake Shack’s stock skyrocketed 119% in first-day trading, making it the latest fast-casual IPO with very-strong first-day demand. Over the last two years, the other five fast-casual IPOs (HABT, LOCO, ZOES, PBPB, NDLS) had an average first-day pop of 95%. At its $45.90 closing share price, the company now commands a $1.7 billion market cap, putting its valuation relative to 2014 sales at a massive premium to other fast casual peers. We have included a chart below to show how this stacks up to two other high growth fast-casual concepts, ...more

Keywords: SHAK

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