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Leading the upcoming IPOs this week is Wingstop Inc. (Nasdaq: WING)…
Wingstop is a fast-casual restaurant chain with 745 locations across 38 states. The Dallas-based company is best known for its fried chicken wings. It joins the group of hot restaurant IPOs in 2015, including Shake Shack Inc. (NYSE: SHAK) and Bojangles' Inc. (Nasdaq: BOJA). SHAK and BOJA are up 68.4% and 6.9% since their respective debuts.
Founded in 1994, Wingstop posted $70 million in sales between March 2014 and March 2015. Its store count grew 19% to 745 locations in 2014. The company plans to raise $75 million by selling 5.8 million shares at a $12 to $14 price range. It's valued at $385 million and will begin trading on Friday, June 12.
New IPOs This Week
Axovant Sciences Ltd. (NYSE: AXON) is a clinical-stage biotech firm developing a therapy for the treatment of dementia. Its lead drug candidate, RVT-101, will begin a phase 3 study in mild-to-moderate Alzheimer's patients in Q4. The Alzheimer's therapy market is crowded, with close competitors Lundbeck and Pfizer Inc. (NYSE: PFE). Fund managers Visium and RA Capital plan to invest $150 million, or 60%, of the IPO. That's an important indicator of Axovant's market potential. The company is set for a $251 million deal by offering 17.9 million shares at a price range of $13 to $15. Axovant will hit the market on Thursday, June 11. At a $1.13 billion valuation, it will be the fifth biotech of 2015 with a valuation exceeding $1 billion.