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U.S. IPO Week Ahead: 2 Health Care Companies Scheduled For A Slow Week

Jul. 08, 2017 3:12 PM ETAKCA, YOGAQ, ADV, RDFN5 Comments

Two health care deals are on the IPO calendar to raise a combined $134 million in the week ahead. Both companies had originally planned to price in the final week of June.

US IPO Calendar



Deal Size($m)
Market Cap($m)

Price Range
Shares Filed


Akcea Therapeutics
Cambridge, MA



$12 - 14

Cowen & Company,
Wells Fargo

Late-stage biotech developing therapies for rare lipid disorders.

Salt Lake City, UT



$6.35 - 6.75

WallachBeth Capital,
Network 1 Financial

Commercializing diagnostic equipment for DNA tests.

Akcea Therapeutics (AKCA), which was originally scheduled for June 29, is now hoping to price its $125 million IPO in the week ahead. Akcea, a spinoff of Ionis Pharmaceuticals (Nasdaq: IONS; market cap $6.4 billion), is a late-stage biotech developing therapies for lipid disorders. The Cambridge, MA-based company has completed a Phase 3 trial for a rare lipid disease and plans to leverage a successful launch to target broader cardiovascular diseases. Additionally, partner Novartis will invest up to $50 million in a concurrent private placement at the IPO price if Akcea raises over $100 million in its offering.

Co-Diagnostics (CODX), which is commercializing diagnostic equipment for DNA tests, is also expected to price a $9 million deal. The Salt Lake City, UT-based company plans to begin generating revenue this year.

More IPOs on the horizon

While the first two weeks of July were slow with no offerings and only two scheduled IPOs, a number of expected launches could build out the back half of the month. Companies that could price in the coming weeks include yoga studio chain YogaWorks (YOGA), marketing firm Advantage Solutions (ADV) and online real estate company Redfin (RDFN).

IPO Market Snapshot

The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is up

This article was written by

Renaissance Capital provides pre-IPO research to institutional investors and investment banks. The Firm manages two IPO-focused funds: The Renaissance IPO ETF (NYSE: IPO) and the Renaissance International IPO ETF (NYSE: IPOS). Individual investors can get a free overview of the IPO market on www.renaissancecapital.com, and try a free trial of our premium platform, IPO Pro (ipopro.renaissancecapital.com). Through Renaissance Capital’s pre-IPO research service, institutional investors get an independent opinion, in-depth fundamental analysis, and customizable financial models on all IPOs.

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