IMAB News

Updated Monday, 7/13. Nine IPOs and one SPAC plan to raise $1.5 billion in the week ahead, led by health insurance marketplace GoHealth (GOCO). More deals could join the IPO calendar in the week ahead, including Apple workflow software provider Jamf (JAMF.RC) and environmental remediation company Montrose Environment (MEG). ...read more

The active market for biotech IPOs looks like it's going to continue in 2020. The latest to go public, preclinical gene therapy biotech Beam Therapeutics (BEAM) upsized its share offering by 69%, priced at the high end of the range, and traded up 10% on its first day. Four biotechs have IPO'd since the start of the year, averaging a total return of +34% ...read more

Three Chinese issuers and a mortgage lender entered the public market this past week. All four priced below the midpoint. A German issuer and a SPAC submitted initial filings. Chinese property management company Phoenix Tree Holdings (DNK) priced below the range to raise $130 million (76% from insiders) at a market cap of $2.7 billion. One of the top three...read more

I-Mab, a late-stage cancer/autoimmune biotech developing in-licensed antibodies in China, raised $104 million by offering 7.4 million ADSs at $14, within the range of $12 to $15. I-Mab plans to list on the Nasdaq under the symbol IMAB. Jefferies and CICC acted as lead managers on the deal. ...read more