Just two micro-cap companies entered the public markets in the last week before the holidays kick off, led by oncology biotech Monopar Therapeutics (MNPR) which popped 231% on its first day, the biggest since 2005. One company submitted an initial filing.
After previously postponing its IPO twice, micro-cap biotech Monopar Therapeutics (MNPR) raised $9 million at an $89 million market cap. The company is targeting chemotherapy-induced mucositis (SOM) and cancers, and a Phase 3 trial for its lead candidate was planned for the 4Q. It finished the week up 238%, which is likely due in part to the extremely low float - insiders indicated on $6 million worth of shares in the offering (67%), leaving just $3 million in tradable shares.
Micro-cap onshore E&P Indonesia Energy (INDO) raised $15 million at an $81 million market cap. The Indonesia-based company’s operations are small, and it was profitable in the FY18. It finished down 12%.
| 2 IPOs During the Week of December 16th, 2019 | |||||
|---|---|---|---|---|---|
| Issuer Business |
Deal Size |
Market Cap at IPO |
Price vs. Midpoint |
First Day Return |
Return at 12/20 |
| Monopar Therapeutics (MNPR) | $9M | $89M | -11% | +231% | +238% |
| Developing therapies for chemotherapy-induced mucositis and cancers. | |||||
| Indonesia Energy (INDO) | $15M | $81M | 10% | -3% | -12% |
| Onshore Indonesian E&P that operates eight wells. | |||||
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Nano-cap online pharma marketplace Trxade Group (MEDS) filed to raise $5 million on the Nasdaq. The company’s shares are currently listed on the OTC (TRXD).
| 1 Filing During the Week of December 16th, 2019 | |||
|---|---|---|---|
| Issuer Business |
Deal Size |
Sector | Lead Underwriter |
| Trxade Group (MEDS) | $5M | Health Care | Aegis Cap. |
| B2B online marketplace for pharmaceutical companies. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 12/19/19, the Renaissance IPO Index was up 33.2% year-to-date, while the S&P 500 had a gain of 27.9%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Spotify (SPOT) and Roku (ROKU). The Renaissance International IPO Index was up 24.5% year-to-date, while the ACWX was up 20.4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Meituan-Dianping and SoftBank.
