Finance Watch: Despite Bad News, IPOs And Public Offerings Keep Flowing
Solid Biosciences was able to launch an IPO earlier this year despite a last minute disclosure about a partial clinical hold, which is now a full clinical hold that's cost investors money. Even so, Arcus Biosciences was able to launch its IPO. Ideaya, JW lead recent VC financings.
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Private Company Edition: BIO comments suggest definitions of personal data expand the scope of foreign investments in biotech companies that must be reviewed by the Committee on Foreign Investment in the United States (CFIUS). Also, NeuroRx’s $95m deal leads recent private financings.
With about three IPOs per month compared with a pace of nearly six per month in 2018, drug developers have raised $1.55bn with US offerings this year – though returns have been mixed.
Arteaus sells royalty stream from Lilly's Emgality giving investors a $260m payday. Also, Pfizer spin-out SpringWorks nabs another $125m, Arch Oncology and Prevail Therapeutics close $50m Series B rounds, and Karuna's recent financing grows to $80m.