Biopharma IPOs Gain Momentum As Three More Launch In The US
UroGen, Biohaven and Ovid bring the year's US biopharma IPO count to 11 as returns remain in mostly positive territory. Ovid is one of only two newly public drug developers trading below its offering price.
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IPO launches in the US hit a wall in August, but several biopharma firms recently entered the queue, adding new opportunities for investors to chase the industry's outperforming returns.
Nineteen biopharma firms went public in the US during the first half of 2017, but as the number of IPOs increased, the average return on first-time offerings decreased, raising a key question: can this pace of first-time offerings continue in the second half?
Amgen will be the first biopharma company to seek approval for a CGRP inhibitor when it submits a BLA for FDA approval later in the second quarter, but Alder, Lilly, Teva and Allergan are in the running for best-in-class status to treat unmet needs in migraine and other headache markets.