Despite Headwinds US IPOs Show Few Signs Of Slowing In Q3
This article was originally published in Scrip
Fifteen drug development firms raised $1.4bn via initial public offerings in the US during the third quarter, which is equal to the quarterly average during the first half of the year and shows that despite recent biotechnology stock headwinds IPOs have not slowed – at least, not yet.
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Peregrine, Ardelyx, Egalet and others reduced expenses and sought alternatives in the second quarter. Also, cell and gene therapy investment rises, FibroGen priced a $326m offering and Unity increased its Series B by $35m.
Two biopharma IPOs in the US continue streak of (mostly) positive returns; two new European VC funds launch as Irish antibiotic developer raises $65m; and Halozyme, Ziopharm price offerings.
Novan and AC Immune ended September with the first biopharma IPOs in 40 days as the performance of newly public companies’ stocks head into an upswing.