Finance Watch: Rough US Stock Market Doesn't Stop Biopharma IPOs As Six More Go Public
October has not been kind to biotech stocks, but that hasn't stopped drug developers from launching IPOs in the US. Also, Takeda reconfigures debt ahead of Shire deal and other offerings.
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The Novartis-backed company will begin a rolling submission to the US FDA for its cord blood-derived cell therapy omidubicel in Q4 based on improved engraftment versus standard cord blood.
Public Company Edition: Genmab raised $505.9m while other 17 July IPOs from Fulcrum and Mirum grossed $72m and $75m, respectively. Also, Horizon sells notes to pay down debt and Inovio reduces its workforce by 28%.
Emerging Company Profile: Equillium in-licensed the CD6 inhibitor EQ001 – Biocon's Alzumab (itolizumab), approved in India for psoriasis – and will begin clinical trials for three autoimmune disease indications this year; a Phase Ib/II aGvHD study is under way.