Updated Monday, 3/21.
One biotech is scheduled to price in the week ahead, although a few SPACs may join the calendar during the week.
AN2 Therapeutics (ANTX) plans to raise $60 million at a $287 million market cap. The company's initial candidate, epetraborole, is a once-daily oral treatment for patients with chronic non-tuberculous mycobacterial (NTM) lung disease. It plans to conduct a Phase 2/3 trial in patients with a subset of NTM lung disease, with enrollment planned for the 1H22 and topline results for the Phase 2 part expected in mid-2023.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| AN2 Therapeutics (ANTX) Menlo Park, CA | $60M $287M | $14 - $16 4,000,000 | Cowen SVB Leerink |
| Phase 2/3-ready biotech developing an in-licensed therapy for NTM lung disease. | |||
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New issuers continue to delay launching, likely deterred by concerns of inflation, the war in Ukraine, and poor IPO returns in recent months. Large deals waiting in the pipeline include Bausch Health spin-off Bausch + Lomb (BLCO), mattress retailer Mattress Firm (MFRM), car sharing platform Turo (TURO), and digital ad firm Aleph Group (ALEF).
Lock-up periods will be expiring for up to 11 companies. For access to lock-up expiration dates, sign up for a free trial of IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 3/17/2022, the Renaissance IPO Index was down 27.3% year-to-date, while the S&P 500 was down 7.1%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Uber Technologies (UBER) and Snowflake (SNOW). The Renaissance International IPO Index was down 23.9% year-to-date, while the ACWX was down 7.1%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Volvo Car Group and Kuaishou.
