With the madness in the market yesterday and overnight last night, recent volatility and the current state of the market will impact the IPO market and those planning to debut this year. To briefly summarize yesterday, it will negatively impact the price of current IPOs and slow the debut of most IPOs that were planning to come to market this year. Again, in the meantime I offer this list of IPO that could be good plays as they are connected to the COVID-19 Virus. Here is that list again. (ATC, CLHN, IMRA, AYLA, LYRA, ZNTL, ORIC, LUNG, NARI, IMRA, ACI, ZI) All this said, we do have an IPO coming to market today.
IPO’s for today:
IMARA CORP (IMRA)
This IPO is a clinical-stage Biopharmaceutical company looking to develop a treatment for people suffering from a genetic disorder related to hemoglobin. They don’t have any insider buying and did miss a developmental milestone back in March of 2019 which forced them to raise more capital through opening back up their Series B funding round. That said their current valuation is in line with the risks presented. Additionally, though BIO-Tech IPOs have been relatively immune from the recent market pullbacks, this IPO could not have a worse day to debut with the VIX (volatility index) above 50 and may hit 60 today. In a more stable market, this IPO may have had a shot, but in this market, this is looking more like an insider deal as the IPO did price a full deal but at the bottom of its price ranging ($16-$18) coming in at $16. I think most equity traders are going to be very defensive in this market and that won’t bode well for this IPO to have a chance of taking off today.
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