Updated Monday, 10/26.
Three IPOs are currently scheduled for the week ahead as investors continue to hold their breath for the year’s last potential mega IPO.
Africa-focused digital bank and fintech platform OPay (OPAY) plans to raise $320 million at a $4.2 billion market cap. Built for the challenges of emerging markets, OPay has established itself as the #1 finance app in Africa and the Middle East, with a 9.9% market share based on monthly active users in the 1H26. In that same period, the company grew gross transaction value by 143% and expanded operating margin to 28%, though it depends heavily on Nigerian consumer spending.
Immunology and inflammation biotech Bambusa Therapeutics (BBTX) plans to raise $150 million at a $837 million market cap. Bambusa Therapeutics is a clinical-stage biotech developing long-acting bispecific antibodies for immunology and inflammatory diseases. Its lead candidate, BBT001, targets IL-4Rα and IL-31. It is in Phase 1 trials for atopic dermatitis, where it reported initial proof-of-concept data in July 2026, and in a Phase 2a trial in China for chronic spontaneous urticaria.
Parkinson’s disease biotech Aspen Neuroscience (ASPE) plans to raise $150 million at a $494 million market cap. Aspen Neuroscience is developing autologous induced pluripotent stem cell (iPSC)-derived therapies for neurodegenerative diseases. Its lead candidate, sasineprocel, is a single-dose cell therapy made from cells taken from a patient’s own skin biopsy, designed to replace the dopaminergic neurons lost in Parkinson’s disease.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Aspen Neuroscience (ASPE) San Diego, CA | $150M $494M | $15 - $17 9,375,000 | Leerink Partners Piper Sandler |
| Phase 1/2a biotech developing stem cell therapies for Parkinson’s disease. | |||
| Bambusa Therapeutics (BBTX) Boston, MA | $150M $837M | $15 - $17 9,375,000 | BofA Evercore ISI |
| Phase 2 biotech developing bispecific antibodies for inflammatory diseases. | |||
| OPay (OPAY) | $320M $4,214M | $19 - $21 16,000,000 | Citi Deutsche Bank |
| Digital bank and fintech platform in Nigeria and other emerging markets. | |||
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Anthropic (ANT) made its S-1 public on Monday, October 26, which lines up with the company’s reported mid-November listing target. The filing shows revenue of $16.3 billion in 1H26, up from $1.2 billion in 1H25, and adjusted operating income of $1.6 billion.
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Street research is expected for two companies in the week ahead, and six lock-up periods will be expiring. Find Street research and lock-up expiration dates on IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 10/22/2026, the Renaissance IPO Index was up 6.0% year-to-date, while the S&P 500 was up 13.0%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include SpaceX (SPCX) and Astera Labs (ALAB). The Renaissance International IPO Index was up 9.4% year-to-date, while the ACWX was up 11.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Kioxia (Toshiba Memory).
