IPO market braces for another five deals and one could become the biggest year-to-date

The newly revived U.S. market for initial public offerings is expecting five deals to price this week, including one that could become the biggest deal of the year to date.

The company has applied to list on Nasdaq under the ticker symbol “RPRX.” There are 13 banks underwriting the deal, led by J.P. Morgan. “In 2019, a total of 22 therapies in our portfolio each generated 2019 end-market sales of more than $1 billion, including seven therapies that each generated 2019 end-market sales of more than $3 billion,” the company says.

Biotech Progenity Inc. PROG, is planning to offer 6.7 million shares priced at $14 to $16 each, raising up to $107.2 million. The company has applied to list on Nasdaq under the ticker symbol “PROG.” Morgan Stanley, Goldman Sachs, Cowen and Piper Sandler are underwriting the deal. Proceeds will be used to finance clinical trials, to fund other R&D and for working capital and general corporate purposes.

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