IsoPlexis IPO: Is ISO stock a buy as it starts trading on Nasdaq?

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IsoPlexis IPO: Is ISO stock a buy as it starts trading on Nasdaq?

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 IsoPlexis IPO: Is ISO stock a buy as it starts trading on Nasdaq?
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Highlights

  • IsoPlexis IPO comes amid an IPO frenzy that started at the beginning of this year.
  • The leading underwriters for the IsoPlexis IPO are Evercore ISI, Morgan Stanley, SVB Leerink and Cowen.
  • IsoPlexis is offering 8,333,000 common shares in the initial public offering.

The common shares of IsoPlexis Corp. will likely start trading in the US equities market on Friday, October 8. The move comes after the life science technology company announced on October 7 that it would price its common shares at US$ 15 apiece.

The leading underwriters for the IPO are Evercore ISI, Morgan Stanley, SVB Leerink and Cowen. IsoPlexis is offering 8,333,000 common shares in the initial public offering and US$ 15 per share is the midpoint of the earlier declared price range of US$ 14 to US$ 16 apiece.

The US Securities and Exchange Commission (SEC) has declared the registration statement on Form S-1 as effective and the shares are expected to start trading on the Nasdaq Global Select Market.

The shares will trade under the stock symbol ISO and the offering is set to close October 12. Before going public, IsoPlexis had reportedly raised US$ 205.5 million in funding and the company was backed by 12 major investors.

Here's what you must know about IsoPlexis

The life science technology company is working on developing personalized therapeutics and curative medicines for tough diseases. According to the company website, it is accelerating the fight against the toughest diseases by revealing the unique biological activity of every patient cell.

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The company's innovative technology allows researchers to develop precise and personalized therapies. IsoPlexis’ efforts have been honored as top innovation or design by Red Dot, BIG Innovation and Scientist Magazine among others.

IsoPlexis stock will be listed on Nasdaq Global Select Market

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IsoPlexis claims that its products have been embraced by researchers worldwide and that includes the top 15 pharmaceutical companies by revenue and about half of the comprehensive cancer centers in America.

Bottom line

The healthcare sector has gained momentum as the world has begun paying attention to this sector ever since the Covid-19 pandemic started. As fighting diseases like cancer remain a tough challenge, companies like IsoPlexis could grow rapidly with innovative technologies.

Also read: Olaplex IPO: Hair products maker raises stock price range, is it a buy?

For the six months ended June 30, IsoPlexis' total revenue was US$ 7.5 million, up from US$ 3.7 million in 2020. Meanwhile, its gross profit increased to US$ 3.9 million from US$ 1.9 million in the same period last year.

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