IDYA News

Five IPOs and two SPACs plan to raise $634 million in the week ahead. One of the leading makers of cryptocurrency mining equipment, Canaan (CAN) plans to raise $100 million at a $1.6 billion market cap. It originally filed to raise $400 million (and in 2018 was rumored to be targeting over $1 billion). The #2 player in the space, Canaan has shown that...read more

Three companies raised $776 million this week, adding to what has been a red-hot May for IPOs. One SPAC also raised $250 million. Leading the week was IDEAYA Biosciences (IDYA), which rose 12% on its first day and finished the week at +13% from its IPO. The company, a Phase 1 biotech developing targeted therapies for genetically-defined cancers, raised $50...read more

IDEAYA Biosciences, a Phase 1 biotech developing targeted therapies for genetically-defined cancers, raised $50 million by offering 5 million shares at $10, below the range of $13 to $15. Insiders had intended to purchase up to $35 million of the IPO. IDEAYA Biosciences plans to list on the Nasdaq under the symbol IDYA. J.P. Morgan, Citi and Jefferies acted as lead managers on the...read more

Upcoming IPOs include four deals raising $868 million. In addition, a SPAC plans to raise $250 million. Don't expect many new additions to the calendar. After this week, the IPO market will get a short break, as companies hit pause until after Memorial Day. That said, new...read more