IPO Roundup: California cancer biotech, Chinese insurance marketplace to take the plunge this week

A pair of companies are lined up to debut on the Nasdaq this week. Revolution Medicines Inc (NASDAQ:RVMD), a clinical-stage oncology company based in Redwood City, California, is targeting a $150 million IPO.  The firm plans to offer 10 million shares at a price between $14 and $16 each.  Revoluton’s lead product candidate, RMC-4630, is currently in clinical development. The drug, along with others in the company’s pipeline, work by inhibiting nodes with cellular signaling pathways. Meanwhile, Huize Holding Ltd (NASDAQ:HUIZ), an online insurance marketplace in China, plans to raise $48 million by offering 4.7 million shares at a price between $9.40 and $11.40 per share. The Shenzhen-based company offers primarily long-term life and health insurance products to the younger generation, and according to the Oliver Wyman Report, it was the largest independent online insurer offering those products in China in 2018.  Huize isn’t technically affiliated with insurance companies or other insurance industry participants, and as a licensed insurance intermediary operating an online platform it bears no underwriting risks.  Instead, it works with insurer partners to help them reach a large pool of purchasers, generating revenue from insurance brokerage fees paid by said partners. Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com  Follow him on Twitter @andrew_kessel