Multiple IPOs are pricing and listing in the final weeks of September 2026, including ADARx Pharmaceuticals’ $446 million Nasdaq debut on September 25 and Oura’s planned $2.1 billion offering set for September 30, confirming active deal flow into year-end. With 248 U.S. IPOs already completed year-to-date and a pipeline of over 20 active S-1 filings plus scheduled listings in early October, the market-implied odds reflect near-certain resolution well before January 2027. Equity capital markets remain supportive amid sector rotation into biotech and AI infrastructure, though rising Treasury yields and selective investor caution on valuations have tempered some larger deals. Key near-term catalysts include additional pricings from Accelevation Holdings and a steady stream of smaller offerings that historically accelerate in the fourth quarter.