Finance Watch: Ascletis First Biotech To List Under New Hong Kong Rules, BeiGene Joins In
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.
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Finance Watch: One Week Of IPOs Total $818.2m
Relay raises $400m to kick off July’s second big week of US initial public offerings. Also, Ocumension and Immunotech launch Hong Kong IPOs, Amgen invests $421m in BeiGene’s $2.08bn offering, Cytokinetics gets up to $400m in deal and investment funding, and Imvax closes $111m series C round.
Henlius Biotech IPO Raises Below-Target $410m
Shares of China’s Shanghai Henlius Biotech will debut on the Hong Kong stock exchange later this week after the company collected $410m in an IPO that was priced at the bottom end of the targeted range.
Finance Watch: A Rough Week To End A Bad Month For Biotech Stocks
Public Company Edition: The prior day's after-hours bad news sent biotech stocks lower on 9 August, and IPOs are taking a breather with the NBI down 2.1% over the past month. However, already public companies are raising cash, including Allakos and Ironwood at $350m each.