Initial public offering (IPO) action has been sluggish so far in 2015. It’s not so much that some big deals haven’t occurred, it’s that there are so few.  In the coming week there are seven IPOs in the pipeline including Etsy, Party City, and Virtu Financial. And a total of about $1 billion in proceeds is on the table for the week. First, a quick look back at last week’s IPOs.

The first China-based IPO of the year was completed last week when Wowo Ltd. (NASDAQ: WOWO) finally put together the right combination of price and number of shares after several weeks of a “best efforts” campaign for its IPO. The so-called online-to-offline (O2O) company raised $40 million by selling 4 million American Depositary Shares (ADS) at $10 apiece.

Last week’s second IPO came from Carbylan Therapeutics Inc. (NASDAQ: CBYL), a clinical-stage specialty pharmaceutical company originally scheduled for an IPO in late January to sell 5.8 million shares at $12 to $14, sold 13 million shares at $5 raising $65 million.

A third IPO that had been listed as “day-to-day” has now been postponed. ViewRay Inc. had hoped to offer 4 million shares in an IPO price range of $12 to $14 to raise $52 million.

IPO ETF manager Renaissance Capital reported that 37 IPOs have priced in the U.S. so far this year, down 54% from a year ago. Total proceeds raised in the first quarter come to $5.6 billion, down 66% compared with the same period in 2014. Of the 37 IPOs that have gone off this year, 17 have come from the healthcare sector. Last year’s IPO total came in at $85.2 billion, the highest total in the past ten years.

Cidara Therapeutics Inc. is a biotech company working on developing anti-infective treatments for diseases that are not currently being adequately addresses. The company plans to offer 4 million shares in an expected price range of $14 to $16 to raise $60 million at a market cap of $190.4 million. Joint bookrunners for the offering are Jefferies & Co. and Leerink Partners. Co-managers are Wedbush PacGrow, Needham & Co., and BTIG. Shares are scheduled to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol CDTX.

XBiotech Inc. is clinical-stage biopharmaceutical firm engaged in developing natural monoclonal antibodies. The company plans to offer 4 million shares in an IPO price range of $18 to $20, raising $76 million at a market cap of around $603 million. Sole bookrunner for the offering is WR Hambrecht + Co. and the deal is being offered on a “best efforts, all-or-none” basis. Shares are scheduled to price and begin trading next week on the Nasdaq under the ticker symbol XBIT.

Aduro  Biotech Inc. is a clinical stage immuno-oncology company developing cancer therapies. The company plans to offer 5 million shares in an expected price range of $14 to $16 to raise $75 million at a market cap of $857 million. Joint bookrunners for the offering are BofA/Merrill Lynch and Leerink Partners. Co-managers are William Blair and Canaccord Genuity. Shares are expected to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol ADRO.

Etsy Inc. is a global online marketplace where craftspeople sell and buy handmade goods. The company plans to offer 16.7 million shares in an expected price range of $14 to $16, raising $250 million at a market cap of around $1.7 billion. Joint bookrunners for the offering are Goldman Sachs and Morgan Stanley. The sole co-manager is Allen & Company. Shares are scheduled to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol ETSY.

KemPharm Inc. is a clinical-stage specialty pharmaceutical company developing proprietary prodrugs which the company believes are improved versions of widely prescribed, approved drugs. The company plans to offer 4.6 million shares in an expected price range of $12 to $14 to raise $52 million at a market cap of $160 million. Joint bookrunners for the offer are Cowen & Co. and RBC Capital Markets. Co-managers are Canaccord Genuity and Oppenheimer & Co. The stock is expected to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol KMPH.

Party City Holdco Inc. is a party goods retailer in North America with approximately 880 stores in the U.S. and Canada. The company plans to offer 21.9 million shares at an IPO price range of $15 to $17, raising $350 million at a market cap of $1.86 billion. Joint bookrunners for the offerig are Goldman Sachs, BofA/Merrill Lynch, Credit Suisse, Morgan Stanley, Barclays, Deutsche Bank, and J.P. Morgan. Co-managers are William Blair, Stephens Inc., and Telsey Advisory Group. Shares are set to price on Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol PRTY.

Virtu Financial Inc. is a high-frequency electronic trading firm and market maker. The company plans to offer 16.5 million shares in an expected price range of $17 to $19, raising about $298 million at a market cap of $2.46 billion. Joint bookrunners for the offering include Goldman Sachs, J.P. Morgan, Sandler O’Neill, BMO Capital Markets, Citi, Credit Suisse, Evercore Partners, and UBS Investment Bank. Co-managers are Academy Securities, CIBC, and Rosenblatt Securities. Shares are expected to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol VIRT.

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