There are no deals set to price in the upcoming week. Following the most active quarter for IPOs in three years (check out Renaissance Capital's 2Q18 US IPO Review for additional insights), the market has paused for the Fourth of July holiday, but should heat back up with a number of notable deals in the pipeline.
Over 10 IPOs Can Launch Next Week, Including Cushman & Wakefield and a Wave of Health Care Deals
Twelve IPOs will become eligible to launch their deals in the upcoming week, led by global commercial real estate brokerage Cushman & Wakefield (CW.RC) and Chinese online car marketplace Cango (CANG). Several health care companies will also become eligible, including breast implant provider Establishment Labs (ESTA), Canadian supplier of medical cannabis Tilray (TLRY) and eight biotechs.
| 12 Recent Filings Could Launch in the Coming Weeks | ||||
|---|---|---|---|---|
| Issuer Business |
Estimated Deal Size |
Sector |
Lead Underwriter |
|
| Tilray (TLRY) | $100M | Health Care |
Cowen | |
| Canadian vertically integrated supplier of medical cannabis. | ||||
| Cushman & Wakefield (CW.RC) | $750M | Real Estate |
Morgan Stanley | |
| Global commercial real estate brokerage and services firm. | ||||
| Establishment Labs (ESTA) | $58M | Health Care |
Jefferies | |
| Fast-growing provider of silicone breast implants. | ||||
| Rubius Therapeutics (RUBY) | $200M | Health Care |
J.P. Morgan | |
| Preclinical biotech developing novel therapies based on red blood cells. | ||||
| Replimune Group (REPL) | $100M | Health Care |
J.P Morgan | |
| Developing oncolytic immunotherapies to fight solid tumors. | ||||
| Crinetics Pharmaceuticals (CRNX) | $86M | Health Care |
J.P. Morgan | |
| Clinical-stage biotech developing oral therapies for rare endocrine diseases. | ||||
| Constellation Pharma (CNST) | $186M | Health Care |
J.P Morgan | |
| Developing epigenetic cancer therapies that modulate abnormal genes. | ||||
| Cango (CANG) | $300M | Technology |
Morgan Stanley | |
| Online car marketplace for businesses and consumers in China. | ||||
| Allakos (ALLK) | $75M | Health Care |
Goldman Sachs | |
| Developing antibodies for allergic, inflammatory and proliferative diseases. | ||||
| Aquestive Therapeutics (AQST) | $69M | Health Care |
BMO | |
| Drug manufacturer developing oral film formulations of CNS disease therapies. | ||||
| Liquidia Technologies (LQDA) | $58M | Health Care |
Jefferies | |
| Developing engineered formulations of therapies for PAH and pain. | ||||
| Bionano Genomics (BNGO) | $35M | Health Care |
Roth Capital | |
| Developing the Saphyr system for next-generation genome mapping. | ||||
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index has returned 8.0% year-to-date, while the S&P 500 is up 3.2%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Spotify (SPOT) and Snap (SNAP). The Renaissance International IPO Index is down -5.5% year-to-date, while the ACWX is down -4.7%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Orsted (DONG Energy) and Samsung BioLogics.
