Lead Icosavax vaccine candidate IVX-121 has reached Phase 1 testing in respiratory syncytial virus (RSV). These particles contain no genetic material but resemble a virus closely enough to elicit an immune response. Seattle-based Icosavax produces vaccines by engineering proteins into virus-like particles. Shares closed Friday at $34.97, up more than 133% from the IPO price. Icosavax shares trade on the Nasdaq under the stock symbol “ICVX.” On the company’s first day of trading Thursday, the stock price more than doubled. After initially planning to offer 11.5 million shares in the range of $14 to $16 each, the company was able to boost the deal’s size to 12.1 million shares priced at the midpoint of the targeted price range. Vaccine developer Icosavax had the biggest life sciences IPO of the week, raising $182 million.

Icosavax reels in $182M for clinical trials of its VLP vaccines Here’s a recap of the week’s IPO activity from the life sciences side, mixed bag and all. Renaissance notes that new filings have slowed in the runup to these dog days of summer.

IPO activity might take a break for August. Of the IPOs that did get done, nearly half priced below the midpoint, and returns were a mixed bag.” Three companies postponed, citing either volatility or market conditions. “Combine that fatigue with increased pricing pressure, and performance starts to suffer.

“Simply put, investors are tired,” he wrote in the firm’s newsletter published on Sunday. However, Bill Smith, CEO and co-founder of Renaissance, said this level of activity comes at a price.

According to IPO research firm Renaissance Capital, the 20 IPOs make up the biggest IPO total for a single week since 2000. But the biggest biotech IPO belongs to a clinical-stage company that is making progress with vaccine candidates offering the potential to address variants of SARS-CoV-2. Rare disease and heart disease are represented as well. Five of these newly public companies are developing new cancer treatments.

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