2017 IPOs In Review: US Biopharma Offerings Rise, Values Decline At Mid-Year
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?
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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.
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.