|Bid||13.50 x 1300|
|Ask||14.40 x 800|
|Day's Range||13.62 - 14.42|
|52 Week Range||13.52 - 16.50|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
(Bloomberg) -- Vir Biotechnology Inc. fell almost 30% in its trading debut, adding to a series of IPO disappointments in an industry that was seen as at least partly immune to the ills afflicting this year’s newly public tech giants.San Francisco-based Vir sold 7.14 million shares Thursday for $20 each -- the bottom of its marketed range -- to raise $143 million. The shares opened Friday at $16.15 and fell from there, closing at $14.02 to give the company a market value of about $1.5 billion.Vir’s backers include SoftBank Vision Fund, Bill & Melinda Gates Foundation and Singapore’s Temasek Holdings Pte.Listing stumbles by high-profile companies including We Co., the parent company of WeWork, have cast a pale over IPOs, which had thrived this year in the U.S. despite trade tensions with China and stock market volatility.Shares of the 146 companies that have gone public in the U.S. this year are now down 0.2% based on a weighted average, according to data compiled by Bloomberg. The losers include the $8.1 billion listing by Uber Technologies Inc., whose shares are down 33% since its May IPO.Peloton, PostmatesThe two $1 billion-plus listings in September, SmileDirectClub Inc. and Peloton Interactive Inc., are down 52% and 23%, respectively. Postmates Inc., which submitted a confidential filing in February, is one of the companies that could delay its listing to 2020, people familiar with the matter have said.Of six biotech and biomedical IPOs that were set for the past two weeks, only one has lived up to expectations. Aprea Therapeutics Inc. priced its shares in the middle of its marketed range and has climbed about 27% from the offer price.BioNTech SE, German cancer treatment firm, downsized its offering Wednesday to raise $150 million and is now down 7.2% from its offer price.Bottom RangeLast week, Viela Bio Inc. and Frequency Therapeutics Inc. both priced their share sales at the bottom of their target ranges. While Viela is up 1.1%, Frequency Therapeutics has fallen 7.2% since then.ADC Therapeutics SA withdrew its IPO application last week citing “adverse market conditions.”Vir, founded in 2016, develop treatments for infectious diseases. Its most advanced treatment is for hepatitis B is in phase 2 clinical trial and it has a flu treatment in phase 1 trial, according to its prospectus.The offering is being led by Goldman Sachs Group Inc., JPMorgan Chase & CO., Cowen Inc. and Barclays Plc. The shares are trading on Nasdaq Global Select Market Friday under the symbol VIR.(Updates with closing share price in second paragraph)To contact the reporters on this story: Crystal Tse in New York at email@example.com;Michael Hytha in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, Michael Hytha, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Vir Biotechnology Inc. opened 19% below its IPO price in Friday’s debut, extending a pattern of pushback by public investors over the valuations of freshly minted stocks.Friday’s inaugural trade in Vir marked the weakest start for a U.S. firm since May, and the fifth-worst among 2019 IPOs. Five of the past eight IPOs have fallen from their offering prices during their debut sessions, dating back to September when Peloton Interactive Inc. had the third-weakest start for a mega-IPO since the financial crisis, and The We Co. withdrew plans for the year’s second-biggest listing.Read more: IPO Trader Trauma Produces Another First-Day Flop: ECM WatchSan Francisco-based Vir, whose backers include SoftBank Vision Fund and Bill & Melinda Gates Foundation, priced its IPO at the bottom of an indicative range on Thursday. Another IPO, HBT Financial Inc., debuted on Friday at $16.20 after its offering priced $1 below its $17 to $19 range.To contact the reporter on this story: Drew Singer in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
SAN FRANCISCO, Oct. 10, 2019 -- Vir Biotechnology, Inc. (NASDAQ: VIR), a clinical-stage immunology company focused on combining immunologic insights with cutting-edge.
(Bloomberg) -- BioNTech SE rose briefly and then fell in its trading debut after pricing its U.S. initial public offering below its target range as a wave of biotechnology listings recedes.The German company raised $150 million after pricing its American depositary shares at $15 each Wednesday. The shares, which rose as much as 11% after trading opened, closed down 5.1% to $14.24 Thursday in New York trading, giving the company a market value of about $3.2 billion.A parade of IPOs by biotechnology and biomedical companies that has yielded mixed results is set to continue Thursday with a listing of as much as $157 million by Vir Biotechnology Inc.Biotech and biomedical companies, though overshadowed by so-called unicorns such as Uber Technologies Inc. with its $8.1 billion IPO in May, account for 34 of the 144 listings on U.S. exchanges this year, according to data compiled by Bloomberg. Those companies garnered $4.9 billion of the total $45 billion raised in those listings, according to the data.After the September collapse of IPO plans for WeWork parent We Co. and entertainment company Endeavor Group Holdings Inc., a handful of biotech companies have plowed ahead with their listing plans.Aprea Therapeutics Inc. priced its shares in the middle of its marketed range to raise $85 million in its IPO last week. Its shares have climbed about 29% from the offer price since then.Also last week, Viela Bio Inc. raised $150 million and Frequency Therapeutics Inc. got $84 million, with both of their share sales pricing at the bottom of their target ranges. Viela Bio is down 1.3% from its offer price, while Frequency Therapeutics has fallen 9.5%.ADC CancelsADC Therapeutics SA withdrew its plans for an offering of as much as $212 million one week ago, citing “adverse market conditions” in a statement.BioNTech, which cut the size of its offering the day of its IPO, sold 10 million shares after earlier marketing 13.2 million of them for $18 to $20 apiece.The company, founded in 2008, focuses on creating individualized treatments for cancer patients. The company has raised $1.3 billion in private placements, according to its filings with the U.S. Securities and Exchange Commission.The offering was led by JPMorgan Chase & Co., Bank of America Corp., UBS Group AG and SVB Leerink. The shares are trading on the Nasdaq Global Select Market under the symbol BNTX.(Updates with closing share price in second paragraph)To contact the reporter on this story: Michael Hytha in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, Michael Hytha, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A clinical-stage immunology company targeting infectious diseases is planning a public listing this week. The IPO Terms San Francisco, California-based Vir Biotechnology, Inc . is seeking to offer 7.143 ...
For a more comprehensive IPO calendar, check out the offering in Benzinga Cloud . The IPO dates below are expected but not confirmed. BioNTech SE (NASDAQ: BNTX ) will issue 13.2 million shares between ...