Livent IPO Struggles Over Uncertainty in the Lithium Market

According to data provided on the New York Stock Exchange website, a total of four U.S. companies listed on U.S. exchanges last week, raising just over $1 billion in total funding. The debuts included two healthcare companies, Equillium and Allogene, one business-to-business SaaS firm, Anaplan, and one industrial metals firm, Livent. 

• Livent (NYS: LTHM) made its public debut on the New York Stock Exchange last week, raising $340 million in funding, below its initial target. Livent, spun off from FMC Corp, is a lithium producer with global operations.

• Shares of business plan software maker Anaplan (NYS: PLAN) began trading Friday, raising $263.5 million. A ten-year-old company, Anaplan sells enterprise software to businesses that helps the firms integrate development and management plans from across various departments of the company.

• VC-backed Allogene Therapeutics (NAS: ALLO) went public last week, with the offering raising $372.6 million in funding. Allogene, a clinical-stage biotechnology company, is pioneering the development of allogenic CAR-T immunotherapies for treatment of blood cancers and solid tumors.

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• Indian biotech company Equillium (NAS: EQ) raised $65.4 million in its IPO on Friday. Equillium is developing therapies for severe autoimmune and inflammatory disorders. The company’s first product candidate, EQ001, is a clinical-stage monoclonal antibody that targets the immune receptor CD6.