Shake Shack Leads the Parade of IPOs Scheduled for Next Week

Last week’s single IPO was a huge success for Box Inc. (NYSE: BOX), which priced 12.5 million shares at $14, above the expected range of $11 to $13, and saw the stock open at $20.20 and close its first day of trading at $23.23, up about 66% on the day.

IPO ETF manager Renaissance Capital reported that four IPOs have priced in the United States so far this year, down about 50% from a year ago. Total proceeds raised come to $500 million, down about 88% compared with the same period in 2013. The 2014 IPO total came in at $85.2 billion, the highest total in the past 10 years.

Here is a look at the IPOs on the schedule for the coming week.

Presbia PLC is an Ireland-based ophthalmic device maker currently marketing a lens implant to treat presbyopia, the age-related inability to focus on near objects. The company plans to offer 4.2 million shares in an IPO price range of $11 to $13 to raise about $50 million at a market cap of around $160 million. The sole bookrunner is Jefferies. Shares are scheduled to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol LENS.

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Zosano Pharma Corp. is a clinical stage specialty pharmaceutical company that has developed a proprietary transdermal microneedle patch system to deliver its existing drugs through the skin. The company plans to offer 3 million shares in a price range of $10 to $12, and it expects to raise gross proceeds of around $33 million at a market cap of $113.5 million. The company first filed for an IPO in July of last year, and it has delayed the offering several times. Joint bookrunners for the offering are Ladenburg Thalmann & Co. and Roth Capital. Shares are scheduled to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol ZSAN.

Ascendis Pharma A/S is a Denmark-based clinical-stage biopharmaceutical maker developing a pipeline of long-acting prodrug therapies that it expects to address large markets with significant unmet medical needs. The company plans to offer 5 million shares in an expected price range of $16 to $18, raising $85 million at a market cap of around $373 million. Joint bookrunners for the offering are Bank of America Merrill Lynch, Leerink Partners and Wells Fargo Securities. Shares are scheduled to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol ASND.

Flex Pharma Inc. is a biotechnology firm developing treatments for nocturnal leg cramps and spasms associated with severe neuromuscular conditions. The company plans to offer 4.6 million shares in an expected price range of $12 to $14 to raise $60 million at a market cap of approximately $221 million. Joint bookrunners for the offering are Jefferies and Piper Jaffray. Co-managers include JMP Securities, Cantor Fitzgerald and Roth Capital. Shares are scheduled to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol FLKS.

Avinger Inc. is a commercial-stage medical device company that makes and sells image-guided catheter-based systems used to treat peripheral arterial diseases. The company plans to sell 4.6 million shares in an expected price range of $12 to $14, raising $60 million at a market cap of $128 million. Joint bookrunners for the offering are Canaccord Genuity and Cowen. Co-managers include Oppenheimer, BTIG and Stephens. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol AVGR.

Entellus Medical Inc. is a medical technology company working on products for the minimally invasive treatment of sinusitis. The company plans to offer 4.4 million shares in an IPO price range of $15 to $17 to raise $70 million at a market value of around $279 million. Joint bookrunners for the offering are Merrill Lynch and Piper Jaffray. Co-managers are William Blair and Canaccord Genuity. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol ENTL.

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Infraredx Inc. is a cardiovascular imaging company working on the diagnosis and treatment of coronary artery disease. The company plans to offer 4 million shares in an expected price range of $13 to $15 to raise $56 million at a market cap of nearly $200 million. Joint bookrunners for the offering are RBC Capital Markets, Canaccord Genuity and BMO Capital Markets. Co-managers are Oppenheimer and BTIG. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol REDX.

InfraREIT Inc. is an externally managed real estate investment trust that owns electric transmission and distribution assets in Texas. The company plans to sell 20 million shares in an expected price range of $19 to $21, raising $400 million on a market cap of more than $1.2 billion. Joint bookrunners for the offering are Merrill Lynch and Citigroup. Co-managers include RBC Capital Markets, Morgan Stanley, UBS Investment Bank, Wells Fargo Securities, Scotiabank/Howard Weil and SocGen. Shares are scheduled to price on Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol HIFR.

Shake Shack Inc. is a fast-casual restaurant featuring premium hamburgers and other foods. The company plans to sell 5 million shares in an expected price range of $14 to $16 to raise $75 million at a market cap of around $532 million. Joint bookrunners for the offering include J.P. Morgan, Morgan Stanley, Barclays, Goldman Sachs and Jefferies. Co-managers are William Blair and Stifel. Shares are scheduled to price on Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol SHAK.

Spark Therapeutics Inc. a biotech firm working in the field of gene therapy to develop one-time treatments for patients suffering from genetic diseases. The company plans to offer 5.5 million shares in an expected price range of $15 to $17 to raise $88 million at a market value of about $352 million. Joint bookrunners for the offering are J.P. Morgan and Credit Suisse. Co-managers are Cowen and Sanford Bernstein. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol ONCE.

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Tracon Pharmaceuticals Inc. is a clinical stage biopharmaceutical company developing therapies for cancer, age-related macular degeneration and fibrotic diseases. The company plans to offer 3.6 million shares in an IPO price range of $12 to $14 to raise $46.8 million at a market cap of $155.7 million. Joint bookrunners for the offering are Wells Fargo Securities and Stifel. Co-managers are Needham and Oppenheimer. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol TCON.