Verrica and Charah Lead a Quiet Week in a Big Year for IPOs

​It was another quiet week for IPOs, although we did see some action in healthcare and energy services. In other news, according to the Wall Street Journal and Dealogic, the IPO scene in America has been more active than we have seen in recent years. Capital markets have raised $29 billion from 88 initial public offerings this year, up 25% from the year prior. That level is as high as we have seen since the 2009 recession.

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• Louisville, Kentucky-based Charah Solutions, Inc. (CHRA), went public Thursday morning on the NYSE, raising over $88 million. The firm provides services to power plants for the cleaning-up and recycling of coal-combustion residuals (CCRs) that are a by-product of burning coal. They also offer maintenance and technical services to nuclear power plants. The IPO comes just days after President Trump directed the EPA to stem closures of coal and nuclear power plants.
  

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• Healthcare firm Verrica Pharmaceuticals, Inc. (VRCA) debuted on the NASDAQ exchange Friday. The company raised $75 million in the offering. Verrica focuses on developing and commercializing products for the treatment of skin diseases with unmet needs. Its lead product candidate, VP-102, is a proprietary drug-device combination of its novel topical solution of cantharidin, a widely recognized, naturally sourced agent to treat topical dermatological conditions.