Building Products Maker Azek Surges In Debut

Azek is a manufacturer of residential and commercial building products, committed to innovation, sustainability and research and design. The company's composite decking solutions compete with those made by Trex (TREX).

Avidity Biosciences (RNA) opened on June 12 at $26.50. The company had priced 14.4 million shares at $18.00. The deal size was increased to 14.4 million shares from 12.0 million, and priced at high end of $17.00-$18.00 range. Cowen, SVB Leerink, Credit Suisse, and Wells Fargo are acting as joint book running managers for the offering. Avidity is a preclinical-stage biopharmaceuticals company backed by Eli Lilly (LLY).

Generation Bio (GBIO) opened on June 12 at $22.15. The company had priced 10.5 million shares at $19.00. The deal size was increased to 10.5 million shares from 10 million shares, and priced at the high end of the $18.00-$19.00 range. JPMorgan, Jefferies, and Cowen acted as joint book running managers for the offering. Generation Bio is a preclinical biotech developing gene therapies for rare diseases.

Burning Rock Biotech (BNR) opened at $22.80 on June 12 after the company priced 13.5 million shares at $16.50. Morgan Stanley, BofA, and Cowen acted as joint book running managers for the offering. China’s "number one NGS-based cancer therapy selection company" based on number of patients tested in 2019, aims to "transform precision oncology and early cancer detection," according to the company's IPO prospectus.

Vaxcyte (PCVX) opened at $20.80 on June after having priced 15.6 million shares at $16.00. The deal size was increased to 15.6 million shares from 14 million shares, and priced at the high-end of the $14.00-$16.00 range. BofA, Jefferies, and Evercore ISI acted as joint book running managers for the offering.

The company seeks "to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide," according to its offering prospectus.

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Disclaimer: "Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming ...

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