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Healthcare IPOs For The Week Ahead

biotechipo sept13 lt

In the healthcare sector, 4 companies have made their stock market debut so far this month.

Now, let's take a look at the U.S. biotech IPO calendar of the week ahead.

1. IGM Biosciences Inc
Mountain View, California-based IGM Biosciences is a biotechnology company developing engineered IgM antibodies for the treatment of cancer patients. Immunoglobulin M (IgM) is a class of antibody naturally produced by the human immune system.

The Company has offered to sell 7.81 million shares of common stock in the offering, and the underwriters have an option for 30 days to purchase up to 1.17 million additional shares. The initial public offering price is expected to be between $15.00 and $17.00 per share.

Founded in 1993, IGM Biosciences plans to list its stock on the Nasdaq Global Select Market under the symbol "IGMS" on September, 18, 2019.

Underwriters of the IPO:

Jefferies LLC, Piper Jaffray & Co., Stifel, Nicolaus & Co. Inc, and Guggenheim Securities LLC.


The Company's lead product candidate is IGM-2323, a bispecific TC-engaging IgM antibody designed to target CD20 and CD3 proteins. The company plans to dose the first patient in a Phase 1 clinical trial of IGM-2323 for the treatment of relapsed/refractory B cell NHL patients in 2019.

Up next in the pipeline is an IgM antibody targeting Death Receptor 5 [DR5] proteins for the treatment of patients with solid and hematologic malignancies. The Company plans to file an IND for a DR5 IgM antibody in 2020.

2. Envista Holdings Corp

Brea, California-based Envista is one of the largest global dental products companies, which provides dental consumables, equipment and services to dental professionals.

Spun off from Danaher Corp. in June 2019, Envista is scheduled to list its common stock on the New York Stock Exchange under the symbol "NVST" on September, 18, 2019.

Envista has offered to sell 26.77 million shares, and the initial public offering price is expected to be between $21.00 and $24.00 per share.

The Company has granted the underwriters an option, exercisable for 30 days, to purchase up to an additional 4.02 million shares.

Underwriters of the IPO:

J.P. Morgan Securities LLC, Goldman Sachs, Morgan Stanley, Robert W. Baird & Co. Inc,Evercore Group L.L.C.,Jefferies LLC, BofA Securities, Inc., Credit Suisse Securities (USA) LLC, Stifel, Nicolaus & Company, Inc., William Blair & Company, L.L.C

Business profile:

The company's operating companies include Nobel Biocare Systems, Ormco and KaVo Kerr, which serve more than 1 million dentists in over 150 countries.

Nobel Biocare Systems offers a range of innovative dental implants solutions, under the brand names Nobel Biocare, Alpha Bio Tec, Implant Direct, Logon, Nobel Procera and Orascoptic.

Ormco is a manufacturer and provider of advanced orthodontic technologies and services, which owns the brands Ormco, Insignia, AOA and Spark.

KaVo Kerr develops dental equipment and supplies used by dentists, and its brands include KaVo, Dexis, i-CAT, Gendex, Nomad, Pelton & Crane, Kerr, Pentron, Optibond, Harmonize, Sonicfill, Sybron Endo and CaviWipes.

3. Exagen Inc

Vista, California-based Exagen Inc. is a commercial-stage life sciences company, helping patients and healthcare providers in the diagnosis, prognosis, and management of autoimmune conditions.

Exagen is scheduled to list its stock on the Nasdaq Global Select Market, under the symbol "XGN", on September 19, 2019.

The company has offered to sell 3.33 million shares in the offering - with the initial public offering price expected to be between $14.00 and $16.00 per share. The underwriters have a 30-days option to purchase up to 500,000 additional shares.

Underwriters of the IPO:

Cowen and Company LLC, Cantor Fitzgerald & Co., William Blair & Company L.L.C.


The Company markets nine testing products under the brand name AVISE. The lead testing product is AVISE CTD, which is an advanced blood test for lupus and connective tissue diseases.

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