YSG - Last Week's IPO Recap
Last week brought us six new IPOs, as well as 15 SPACs which raised $2.5 billion. Olema Pharmaceuticals (NASDAQ: OLMA), the breast cancer biotech company led the way as the week’s top performer while its stock skyrocketed 157% on its first day. Olema Pharmaceuticals was the only one to hurry up and go public before the holiday. Other public newbies were Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI), Sotera Health Company (NASDAQ: SHC), Yatsen Holding Limited (NYSE: YSG), Telos Corporation (NASDAQ: TLS), and NeoGames S.A. (NGMS) (NASDAQ:NGMS).
Olema Pharmaceuticals
Olema Pharmaceuticals managed to raise $209 million at a $769 million market cap. The company focuses on the discovery and development of targeted therapies for women’s cancers, like a targeted endocrine therapy which can be taken orally. The company’s leading candidate is currently going through Phase 1/2 trials, with the initial data expected in the second half of 2021. Olema finished the week up 157%.
Maravai LifeSciences
Maravai LifeSciences, the research testing service provider, also upsized and raised $1.6 billion at a $7.2 billion market cap. During 2020, the company demonstrated accelerated growth becoming a highly profitable company, all thanks to the use of its mRNA products in COVID-19 vaccine development, which is currently a very hot issue. Its main customers include Pfizer Inc. (NYSE: PFE), responsible for 14% of the company’s revenues (January-September), and BioNTech SE (NASDAQ: BNTX). Maravai finished up 11% last week.
Sotera Health
The sterilization service provider, Sotera Health, also did very well during its first “public” week. The company raised $1.1 billion at a $6.4 billion market cap. The Sotera IPO priced late Thursday and began trading Friday, finishing up 9%. Sotera also provides Co-60 products used in gamma-radiation and lab testing for advisory purposes. The company makes some good and growing profitable margins, and it is also praised for its strong free cash flow.
Yatsen
With a 377% YoY (2018 to 2019) increase in revenues, Chinese company Yatsen, which produces and sells cosmetics under brands including Perfect Diary, showed us what explosive growth means. The company went public last week, raising $617 million at a $7.0 billion market cap. Although the operating margins are down since the beginning of the year due in part to COVID-19, the company finished last week up 91%.
Telos
Telos made sure that not all the previous week’s IPOs are from the medical and cosmetic world. The IT and cybersecurity company from Ashburn, Virginia, provides highly customizable software-based security solutions, mostly to the United States Department of Defense as well as some other government and enterprise clients. It finished last week up 12% and raised $254 million at a $1.1 billion market cap.
NeoGames
NeoGames, the company providing technology, gaming, and operational services to lottery operators in North America and Europe, managed to raise $82 million at a $444 million market cap. It finished the week up 22%.
COVID-19 Made Us Look at Things Differently
Investment in biotech and medical research is traditionally risky, but considering the current COVID-19 importance, it might be both good and profitable to do so. The same goes for the cybersecurity and IT segment, as COVID-19 made us look at things differently. Or least, it made us work from home more than before and made the companies think about how to enable their employees to work from home. Will that change once we grab control of the coronavirus? Only time will tell. As for last week’s IPOs, time will also have a final say.
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