Shares of Revolution Medicines (RVMD) jumped in their trading debut after the initial public offer already priced at the top end of a revised range. The company expects to use the proceeds to fund R&D, to move toward clinical trials for some candidates and for general corporate purposes.
Muscle Maker Grill (GRIL) opened on February 13 at $4.70. The company had priced 1.54M shares at $5.00. Alexander Capital acted as sole book running manager for the offering. Muscle Maker is a fast casual protein-based meals restaurant chain.
Revolution Medicines opened on February 13 at $28.21. The company had priced 14M shares at $17.00, at the top end of the $16.00-$17.00 range. JPMorgan, Cowen, SVB Leerink and Guggenheim acted as joint book running managers for the offering. Revolution Medicines is advancing drug candidates for the treatment of solid tumors and other cancers.
Huize (HUIZ) opened on February 12 at $10.65. The company had priced 5.25M shares at $10.50. The deal size was increased to 5.25M shares of common stock from 4.65M shares of common stock and priced within the $9.40-$11.40 range. Citi and CICC acted as joint book running managers for the offering. Huize operates an online insurance marketplace in China.
Muscle Maker finished its first trading day at $3.95 after opening at $4.70.
After opening at $28.21, Revolution Medicines finished Friday at $28.80.
Huize ended the week at $10.60.
UPCOMING IPOS: Among the upcoming IPOs are Passage Bio (PASG) and CPG Newco (AZEK).
Passage Bio has filed for a $125M IPO, which will bankroll the development of its three lead gene therapy programs in dementia, Krabbe disease and rare childhood disease GM1 gangliosidosis.
CPG Newco is the manufacturer and parent company of AZEK Building Products, Versatex, Scranton Products and Vycom building product brands.
"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.
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