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Healthcare IPOs For The Week Ahead

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The IPO activity in the healthcare sector has had a strong start this year with 4 listings in January compared to only one last year during the month.

The following companies belonging to the healthcare sector are slated to debut on the U.S. public markets in the first week of February.

1. Beam Therapeutics Inc.

Cambridge, Massachusetts-based Beam Therapeutics is a biotechnology company developing a new class of precision genetic medicines.

The company, which was founded in 2017, plans to list its stock on the Nasdaq Global Select Market under the symbol "BEAM" on February 6, 2020.

About 6.25 million shares of common stock will be sold in the offering, and the underwriters have an option for 30 days to purchase up to 937,500 additional shares. The initial public offering price is expected to be between $15.00 and $17.00 per share.

Underwriters of the IPO:

J.P. Morgan Securities LLC,Jefferies LLC, Barclays Capital Inc., Wedbush Securities Inc.

Pipeline:

Beam Therapeutics has 12 programs in preclinical testing in the indications of Sickle Cell Disease, Beta-Thalassemia, CAR-T Cell Therapies for relapsed, refractory, pediatric T-cell Acute Lymphoblastic Leukemia, or T-ALL, and pediatric Acute Myeloid Leukemia, or AML, Glycogen Storage Disease Type 1A, also known as Von Gierke disease, and Stargardt disease.

2. PPD Inc.

Wilmington, North Carolina-based PPD is a provider of clinical development and laboratory services to pharmaceutical, biotechnology, medical device and government organizations, as well as other industry participants.

The company has planned to list its shares on the Nasdaq Global Select Market, under the symbol "PPD", on February 6, 2020.

PPD Inc. has offered to sell 60.0 million shares of its common stock in the offering, and granted the underwriters an option for 30 days to purchase up to 9.0 million additional shares of common stock.

The initial public offering price is expected to be between $24 and $27 per share.

Underwriters of the IPO:

Barclays, J.P. Morgan, Morgan Stanley, Goldman Sachs, BofA Securities, Credit Suisse, Jefferies, UBS Securities LLC, Citigroup, Deutsche Bank Securities, Evercore Group, HSBC, Mizuho Securities USA, Robert W. Baird & Co. Inc, William Blair, Drexel Hamilton, LLC.

Services:

The company provides contract research services to biopharmaceutical firms and researchers worldwide - offering both clinical development and laboratory services.

The clinical development services include all phases of development (i.e., Phase I-IV), peri- and post-approval and site and patient access services. The laboratory services include a range of high-value, advanced testing services, including bioanalytical, biomarker, vaccine, good manufacturing practice ("GMP") and central laboratory services.

Financial Numbers:

For the nine months ended September 2019, the company's net income attributable to stockholders declined to $47.9 million or $0.31 per share from $59.75 million or $0.38 per share in the same period a year ago. Revenues for the period rose to $2.98 billion from last year's $2.77 billion.

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