Finance Watch: Biopharma IPOs Defy Broader Stock Performance Trends
Public Company Edition: With returns for newly public biopharma companies rising, seven more jumped in line to go public in the US between the beginning of February and early March, while two drug developers launched IPOs in the EU. Meanwhile, already public companies keep raising gobs of cash.
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Revolution has just one drug in the clinic, but its focus on KRAS excited IPO investors. Also, Deciphera’s $175m offering leads recent follow-ons and Spruce raises $88m in venture capital.
Germany’s family-controlled big pharma, Merck KGaA, is divesting its allergens business, Allergopharma to the fast-growing Munich healthcare company, Dermapharm Holding.
There have been eight US biopharma IPOs in 2019, but only three are trading above their launch price – a big change from just three days ago.