German biotech firm Evotec plans to list on the Nasdaq under the symbol "EVO" on November 4th.
The company would look to raise up to $575.5 million in the IPO by offering 22 million American depositary shares (ADSs) at $26.16 each, according to its filing. Each ADS represents one-half of an ordinary share.
According to Reuters, Evotec SE would seek a valuation of about $9.2 billion in its initial public offering in the United States. BofA Securities and Morgan Stanley are the lead underwriters for the offering.
As of October 31st, The company has a market capitalization of $8.2 billion on the Frankfurt Stock Exchange, where its shares are already listed.
Business Overview
Founded in 1993, Hamburg-headquartered Evotec is an industry-leading drug discovery and development partner for the pharmaceutical and biotechnology industry.
It offers a suite of technologies that enable faster and cheaper drug discoveries by pharmaceutical companies.
The company last year received a grant from the Bill & Melinda Gates Foundation to help identify and develop potential monoclonal antibody drugs for the prevention of severe COVID-19.
Evotec's work to date has resulted in 11 disclosed pipeline assets in clinical development, and over 100 pipeline assets in the discovery and preclinical phase.
In the meanwhile, it has developed a broad multi-disciplinary network of collaborations with over 800 partnerships across the pharmaceutical and biotechnology industry and academia.
Evotec generate revenue through three core collaboration routes:
1)“Fee-for-service”: byproviding stand-alone or fully integrated drug discovery and development solutions to partners on a fee-for-service and FTE-rate basis;
2)EVOroyalty: by receiving milestones and royalties on assets;
3)EVOequity: through equity ownership in emerging, highly innovative companies and translational academic institutional projects.
As of June 30, 2021, it had 24 investments with 90 active projects in our EVOequity pipeline.
Financial Performance
Revenues from contracts with customers increased by 17.5%, from €231.0 million for the six months ended June 30, 2020 to €271.3 million in the six months ended June 30, 2021.
The increase is mainly due to a positive performance across all business lines as well as the higher contribution of Just – Evotec Biologics.
Net income increased by €105.5 million from €7.26 million in the six months ended June 30, 2020 to €112.71 million in the six months ended June 30, 2021. The increase is mainly resulted from the fair value adjustment of Evotec’s participation in Exscientia Ltd. in the amount of €116.1 million.
Click to view the prospectus
$Evotec (EVO.US)$

Ryan Cohen is no stranger to sharing short cryptic tweets to his 200,000+ $Twitter (Delisted) (TWTR.US)$ followers. On Sunday, the Chairman of $GameStop (GME.US)$ was back at it with a short tweet being dissected by investors.On Oct. 31, Cohen sent the simple tweet of “MGGA.”
The most likely explanation to the one-word phrase from Cohen is the four letters being an acronym for "Make GameStop Great Again," a nod to the popular acronym of Make America Great Again used as a campaign phrase and rally cry by former President Donald Trump.
While it unlikely, perhaps Cohen is creating his own investing acronym similar to FAANG, a popular basket of technology stocks $Meta Platforms (FB.US)$ $Apple (AAPL.US)$ $Amazon (AMZN.US)$ $Netflix (NFLX.US)$ and $Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$ formerly known as Google.

$CorMedix (CRMD.US)$ read thru their filings and this company will definetly go up to 9.00-10.00 soon and stay. They have an FDA announcement coming this month also. Drug approval could happen before January. Stock has potential to go up to 25.00 in 3-4 months. Im going to start buying up as many shares as i can under 6.00 until then. 500% increase will happen. About 900,000 shares is all thats available until it goes above 7.00.

$Apple (AAPL.US)$ good to buy now?