The U.S. initial public offering market is expected to see just one deal this week, taking a pause after the shortened holiday week. Last week, there was just one IPO and six SPACs, or special purpose acquisition corporations, which raise money and then acquire a business or businesses. This week's deal comes from Nuvectis Pharma, according to Renaissance Capital, a biotech focused on developing precision medicines for the treatment of serious unmet medical needs in the field of oncology. The company is aiming to raise up to $32.2 million to fund clinical trials of its two product candidates. The company has applied to list on Nasdaq under the ticker "NVCT." ThinkEquity is sold underwriter. The Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -2.07% has gained 0.1% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.98% has gained 22%.