September brought five life science IPOs split between the New York Stock Exchange and the NASDAQ. Here we review each company for investor consideration.
Each month gives investors an opportunity to look back at companies that went public, the price of their initial public offerings, and what each company’s expertise is.
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.
September had five life science IPOs over the month split between the New York Stock Exchange and the NASDAQ. Here, the Investing News Network (INN) is reviewing each company for investor consideration.
All numbers and figures are current as of 12 p.m. EST on October 5 and are quoted in US dollars. The companies below were found on the NASDAQ’s latest IPO list for the month of September.
1. Entasis Therapeutics (NASDAQ:ETTX)
Market cap: $102.54 million; current share price: $7.84
First on our list of life science IPOs for September is a Entasis, a company specializing in antibacterial products. Within its range of focus, the company has developed a pipeline through its anti-infective discovery platform which targets serious multidrug-resistant bacterial infections.
Entasis was initially established in 2015 as a spin-out from AstraZeneca (NYSE:AZN) with funding from the company. Since then, Entasis has raised $81.9 million from multiple US and European-based healthcare financial investment firms. The company raised another $75 million with its IPO, pricing its five million shares at $15 each.
2. Principia BioPharma (NASDAQ:PRNB)
Market cap: $574.34 million; current share price: $25.27
With an IPO price of $106.25 million, Principia joins our list of September life science IPOs with over six million shares priced at $17 per share. Principia is a clinical-stage biopharmaceutical company developing oral drugs for immunology and oncology with its Tailored Covalency platform.
The most advanced drug in its pipeline—currently moving into Phase 3 development—is part of its BTK franchise for a skin disease. The company’s cancer treatment is in Phase 1 development for multiple cancer types.
3. Ra Medical Systems (NYSE:RMED)
Market cap: $170 million; current share price: $13.4
Middle of our September life science IPOs list is Ra Medical, which is the only medical device company on the list. The company has two lines of products, the Dabra and Pharos Excimer Laser, which are both non-invasive excimer lasers. Dabra is a catheter system used in endovascular treatments and Pharos is used to treat chronic skin diseases.
Near the end of September, Ra Medical priced its IPO at $17 per share for close to four million shares, equalling out to roughly $66 million for the company.
4. Urovant Sciences (NASDAQ:UROV)
Market cap: $407.74 million; current share price: $13.25
Urovant specializes in urologic condition therapies. The company’s lead candidate is a small molecule in its Phase 3 clinical trial to treat overactive bladder. Its second candidate is a gene therapy for the same indication, but targets patients who have failed pharmacological therapy.
Urovant has the largest IPO on this list at $140 million, with 10 million shares priced at $14 each. Investors can look forward to hearing about the company’s Phase 2 trial for the gene therapy drug,which is expected to begin in 2019.
5. Y-mAbs (NASDAQ:YMAB)
Market cap: $791.53 million; current share price: $24.26
Last on our list of life science IPOs in September is Y-mAbs. Its 6.9 million shares were priced at $16 each bringing in $110.4 million for the company. The late-stage biopharmaceutical company is focused on developing antibody-based oncology therapeutics.
Y-mAbs’ two drugs in development may treat a wide-range of tumors and cancers such as small cell lung cancer, brain tumors, melanoma and more. In August, one of the drugs received breakthrough therapy designation from the US Food and Drug Administration (FDA).
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Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.