Kyverna Therapeutics raised nearly $320 million in its IPO, priced above the market price. Supported by Gilead Sciences (GILD) and Bain Capital Life Sciences Opportunities, the company's offering was the second-largest for a drug developer this year.
Meanwhile, Moderna (MRNA) and Bavarian (BAYRY)-backed Metagenomi fell over 30% in its Nasdaq debut on Friday.
CURRENT IPOS AND DIRECT LISTS:
Metagenomi (MGX) opened at $10.25 on February 9th. Metagenomi, a precision genetics medicines company dedicated to developing curative therapeutics for patients using its proprietary metagenomics-derived gene editing toolbox, has priced its initial public offering of 6.25 million shares of common stock at $15.00 -Dollars per share to the public set the lower end of the offering range of $15.00 to $17.00.
BBB Foods (TBBB) opened at $19.50 on February 9 after trading at $17.50 for 33.661 million shares. The transaction size was increased from 28.05 million common shares to 33.6 million common shares and the price was at the upper end of the revised range of $16.50 to $17.50. The Mexican grocery chain operator's shares have been approved for listing on the New York Stock Exchange under the symbol “TBBB.”
Telomir Pharmaceuticals (TELO) opened at $7 on February 9, exactly the IPO price. Telomir Pharmaceuticals, a preclinical-stage pharmaceutical company focused on the development and commercialization of TELOMIR-1, is developing Telomir-1 as the first novel small molecule to extend DNA's protective telomeric caps to achieve age reversal. The company has priced 1M shares, which will trade on the Nasdaq Capital Market under the ticker symbol “TELO.”
Kyverna Therapeutics (KYTX) opened at $34.25 on February 8th. The company priced 14.5 million shares at $22.00, above the revised range of $20.00 to $21.00. Kyverna is a clinical-stage biopharmaceutical company focused on developing cell therapies for patients with autoimmune diseases. Its lead product candidate, KYV-101, is advancing in clinical development in two major areas of autoimmune disease: rheumatology and neurology, including Phase 2 trials for multiple sclerosis and myasthenia gravis, a Phase 1/2 trial for systemic sclerosis and two ongoing multicenter, open-label phase 1 studies in the USA and Germany for patients with lupus nephritis.
Perfect Moment (PMNT) opened at $4.43 on February 8th. The luxury lifestyle brand, which combines fashion and technical performance across its skiwear, outerwear, swimwear and activewear ranges, had priced 1.33 million shares at $6.00. The deal size was increased from 1.23 million to 1.33 million shares and the price was at the lower end of the $6.00 to $7.00 range.
American Healthcare REIT (AHR) opened on February 7 at $12.85. The Company had priced its public offering of 56 million shares of common stock at $12.00 per share, which was at the low end of the $12 to $15 range. American Healthcare REIT is a self-managed real estate investment trust that acquires, owns and operates a diversified portfolio of clinical healthcare properties, primarily focused on medical office buildings, senior housing, nursing facilities, hospitals and other healthcare-related facilities.
LAST SPAC IPOS:
Helix Acquisition Corp. II (HLXB) opened at $10.03 on February 9th. The acquiring company intends to focus on opportunities in healthcare or healthcare-related industries. Leerink Partners is acting as sole bookrunning manager for the offering.
Legato Merger III (LEGT) opened on February 6 at $10.06. The blank check company initially wants to focus on target companies in the infrastructure, mechanical engineering, industrial and renewable energy sectors.
PERFOMANCE:
- Metagenomi opened well below its IPO price late Friday, closing at $10.31.
- BBB Foods closed its first day of trading at $19.05.
- Telomir Pharmaceuticals ended Friday at $5.
- Perfect Moment ended the week at $5.24.
- Kyverna Therapeutics ended Friday at $30.10.
- American Healthcare REIT closed the week at $13.12.
UPCOMING IPOs: Expected upcoming IPOs and direct listings include Reddit, Telix Pharmaceuticals, Key Mining (KMCM), Auna (AUNA), Origin Life Sciences (OLSI), Rubrik and New Era.
Click here to view the upcoming IPO calendar on TipRanks.
Reddit, which confidentially filed IPO documents in 2021, is expected to release the filing later this month and designate the New York Stock Exchange as its listing exchange, people familiar with the matter told The Wall Street Journal's Corrie Driebusch. Winning one of this year's most anticipated IPOs is a coup for the IntercontinentalExchange (ICE) unit that competes against rival Nasdaq (THEN) for the largest IPOs, the report said.
Telix Pharmaceuticals announced that it is considering an initial public offering of American Depositary Shares, which represent its common shares in the United States and will be listed on the Nasdaq Global Market. Telix's ordinary shares will remain listed on the Australian Securities Exchange.
Key Mining Corp., which previously filed an application related to an offering of common shares in an initial public offering, said it had applied to list its common shares on the Nasdaq Capital Market under the trading symbol “KMCM,” according to an amended filing states that the Company has applied to list its common shares on the NYSE American under the trading symbol “KMCM.” The filing states: “We are an exploration-stage mining company primarily focused on the development of two projects, both located in the Atacama Region, also known as Region III, of the Republic of Chile. Our Cerro Blanco Project or the Cerro Blanco Project is primarily focused on finding rutile from which high-quality titanium dioxide (TiO2) can be processed. Our Fiel Rosita Project or the Fiel Rosita Project is primarily focused on prospecting for copper and to a lesser extent zinc.”
Auna SA has filed with the SEC for a proposed initial public offering and has requested to list its Class A shares on the New York Stock Exchange under the symbol “AUNA.” The prospectus filed with the SEC states, among other things: “Our mission is to lead the transformation toward a significantly improved and highly integrated health care system throughout Spanish-speaking Latin America.” We operate hospitals and clinics in Mexico, Peru and Colombia, offering prepaid health plans in Peru and dental and vision plans in Mexico.”
Rubrik, a Microsoft-backed cloud and data security startup (MSFT) is on track for an IPO in 2023 and its investor roadshow could begin as early as next month, Bloomberg's Amy Or and Katie Roof report, citing people familiar with the matter. The IPO could raise $500 million to $700 million, the authors say, noting that the timing and amount to be raised are subject to change.
New Era Cap, a provider of headwear to major U.S. sports leagues, has begun preparations for an initial public offering in New York that could be valued at $4 billion to $5 billion, Reuters reports, citing people familiar with the matter . New Era, which makes caps tied to the NFL, MLB and NBA, has invited investment banks and law firms to pitch for roles in its stock market debut this month, the sources said.
Origin Life Sciences announced that it is offering 1.875 million shares of our common stock in an initial public offering at an assumed public offering price of $4.00 per share. The Company has applied to list its common shares for trading on the NYSE American under the symbol “OLSI.” Origin Life Sciences is a clinical-stage biotechnology company that has developed a high-energy plasma device that generates and delivers nitric oxide in the form of a plasma/NO stream to targeted locations in the body. “The current can potentially be used for various therapeutic purposes, including as an anti-infectious, anti-inflammatory and tissue regenerative therapy for chronic wounds and skin and soft tissue infections,” the company said in a regulatory filing.
“Opening Day” is The Fly's recurring series of articles about the latest IPOs, their performance and upcoming IPOs.
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