IPO UPDATE: Biotech gearing up for a big July?
This article was originally published in Scrip
Executive Summary
If 10 drug development firms launched initial public offerings in the US during June and only two biotechnology companies have priced IPOs this month as of 17 July, does that mean the bubble will soon burst and let the air out of the biotech IPO market?
You may also be interested in...
Finance Watch: Pfizer Adds $3.5bn To Cash Stockpile, Reduces Stake In Haleon
Public Company Edition: Pfizer’s stake in Haleon dropped from 32% to 22.6% with a massive sale of shares of the GSK consumer health spinout. Also, Galderma prices its Swiss IPO, Madrigal grosses $600m in a post-approval offering and bluebird secured up to $175m in debt.
Finance Watch: Another Bevy Of VC Mega-Rounds, Including $175m For Capstan
Private Company Edition: Capstan and Engrail raised $175m and $157m, respectively, in series B venture capital rounds in addition to Madrigal’s $400m-plus launch and Clasp’s $150m series A.
Roche/Chugai’s Enspryng Not Good Enough In Phase III Myasthenia Gravis Study
Many companies have late-stage myasthenia gravis programs in Phase III, but argenx and its Vyvgart competitors won a reprieve with the failure of IL-6 inhibitor Enspryng (satralizumab).