The companies opening for trading share some common qualities. All four increased the size of their deals, all are trading on the Nasdaq, and three of the four priced above their expected ranges.
First up is Certara, which raised about $668.3 million late Thursday. The company sold 29,055,000 shares at $23 each, up 24,390,000 shares at $19 to $22 it had planned to sell. Jefferies, Morgan Stanley, and Bank of America Securities are the lead underwriters on the deal.
which isn’t a biotech, provides biosimulation software to create virtual trials that use virtual patients to predict how drugs behave in different people. Certara is profitable, reporting $5 million in income for the nine months ended Sept. 30. It plans to trade under the ticker CERT.
AbCellera also isn’t a biotech, but it provides an artificial intelligence-powered R&D platform that helps speed drug discovery. The company, which is backed by Peter Thiel, the co-founder of PayPal Holdings (PYPL) and
(PLTR), is also profitable. AbCellera reported $1.9 million in income for the nine months ended Sept. 30, compared with a loss of $570,000 for the period a year ago.
The company will trade under the ticker ABCL. Credit Suisse, Stifel, Berenberg, SVB Leerink, and BMO Capital Markets are the lead underwriters.
4D Molecular Therapeutics is also on tap to trade Friday. The company collected $193.2 million after selling 8.4 million shares at $23 each. 4D initially offered to sell 4,761,904 shares at $20 to $22, which was increased Thursday to 7 million shares at $22 to $23. Lead underwriters on the deal are Goldman Sachs, Bank of America Securities, and Evercore ISI.
4D is developing gene therapies for diseases affecting three areas: ophthalmology (the eye), cardiology (the heart), and pulmonology (respiratory). The biotech is not profitable, reporting a loss of $36.1 million for the nine months ended Sept. 30 compared with a loss of $33.2 million for the period in 2019, a prospectus said. It will trade under the ticker FDMT.
is making its public markets debut. The deal is much smaller than the others trading Friday but no less interesting. Vivos sold 3.5 million shares at $6 each, raising $21 million. This is up from the 3,333,334 shares at $5 to $7 each Vivos has planned to sell. Roth Capital Partners is the lead underwriter on the deal.
Vivos is a medical technology company that is developing products to treat sleep breathing disorders like obstructive sleep apnea, or OSA. Nearly one billion people suffer from sleep apnea globally. Vivos is not profitable. The company had a loss of $5.8 million for the nine months ended Sept. 30, compared with $8.1 million for the period a year earlier, a prospectus said.
Vivos will trade under the ticker VVOS.
Write to Luisa Beltran at firstname.lastname@example.org