4D Pharma Plc
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Special purpose acquisition companies can bring biopharma firms to market faster than a traditional initial public offering, but frequent failures and increased scrutiny from the US Securities and Exchange Commission mean their heyday in the life sciences space is arguably over.
Even with higher interest rates, some debt on the balance sheets of profitable biotechs is healthy. However, among loss-making biotechs and in the current environment, raising new debt has unhealthy connotations.
ARCH closed a $3bn VC fund to end the month of June while in the same week six public biopharma firms said they are cutting jobs. Even so, some publicly traded companies have been able to launch sizeable offerings, including a $450m note sale by Cytokinetics and Xenon’s $250m follow-on.
Many industry leaders expect broad progress in the field of RNA technologies following the rapid and successful roll-out of mRNA vaccines against COVID-19 last year. Genetic medicines of various types, emerging platforms for tackling previously “undruggable” targets and the microbiome were among other areas singled out as areas to watch in 2022.