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August brought three life science IPOs split between the New York Stock Exchange and the NASDAQ. Here we review each company for investor consideration.
A new month means a new wave of life science initial public offerings (IPOs), leading to more opportunities and inspiration for investors.
Whether new to the life science sectors or not, these diversified companies have a variety of technologies and drug candidates to offer the healthcare industry and potential shareholders.
Although summer typically follows a slower pace, August had three life science IPOs over the month split between the New York Stock Exchange and the NASDAQ. Here to cover which companies went public, the Investing News Network (INN) is reviewing each company for investor consideration.
All numbers and figures are current as of market close on September 6, 2018. The companies below were found on the NASDAQ’s latest IPO list for the month of August.
1. Aridis Pharmaceuticals (NASDAQ:ARDS)
Market cap: $104.94 million; current share price: $13.30
First on our August life science IPOs list is biopharmaceutical company Aridis. Working on immunotherapies to treat life-threatening infections, this company is developing a pipeline with its MabigX technology of human antibodies.
Different from traditional antibiotics to fight bacterial infections, the company’s monoclonal antibodies stay in the body longer and have a lower risk of drug resistance. Of its six drug programs, half are preclinical and the other half are in Phase 2 development. Aridis joined the public market in early August and priced its two million shares at $13, which amounted to $26 million.
2. Bionano Genomics (NASDAQ:BNGOU)
Market cap: $507.53 thousand; current share price: $6.42
This genetics company was developed to help other life science companies with its genomic platform technologies. Thanks to the continued influx of genetics, stem cell and immunotherapy markets, it’s clear these technologies can benefits a variety of companies.
Its Saphyr product, which streamlines the ability to merge DNA imaging and genomic data analysis into one workflow, is just one of the technologies Bionano has to offer. This company priced its IPO at $6.13 per 3.36 million shares which totaled over $20.59 million.
3. Vaccinex (NASDAQ:VCNX)
Market cap: $114.41 million; current share price: $9.97
Vaccinex is the last company on August’s life science IPOs list. Although its name may hint that it specializes in vaccines, the company has only one vaccine it’s working on—an NKT cell activation. Other drug programs include indications for a variety of cancers and multiple sclerosis.
The company is also involved in a number of collaborations and partnerships, including ones with cancer organizations and Emory University. With its IPO priced at just over $40 million, the company’s total expenses are $2.4 million, which equals out to be the highest life science IPO in the month.
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Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.