Pipeline Watch: Phase III Progress With Esaxerenone, Lusutrombopag
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.
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Ascletis was the first with a new listing under new Hong Kong rules, but BeiGene also sold shares on the HKEX; the companies raised more than $1bn combined. Also, TherapeuticsMD sold stock in the US to commercialize Imvexxy, Curon raised the latest $150m VC mega-round, and NewLink cut jobs in R&D refocus.
Public Company Edition: Nine more biopharma companies launched IPOs in the US in July, bringing the 2018 total to 45 first-time offerings – three more than in all of 2017. Bluebird's $632.5m offering leads recent follow-on public offerings.
Public Company Financings: Rhythm and OptiNose are the 30th and 31st initial public offerings of 2017. Also, reverse mergers add two more newly public firms, Valeant raises $1bn to pay down more debt, and PhaseRx and Trevena cut jobs.