IPO Update: Gottlieb’s Resignation Pulls Down Five Of Eight Newly Public Biopharmas
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.
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Finance Watch: Q1 Biopharma IPOs Shrink To A Fraction Of 2021 Total
Public Company Edition: Only nine drug developers went public in the US, raising $807m in the first quarter, versus 32 IPOs raising $5.2bn in Q1 of last year. Also, MoonLake closed its SPAC merger, Sanofi priced €650m in sustainability-linked bonds in €1.5bn note sale, and Kaleido will cease operations.
Cirius’ Mixed Phase IIb Results In NASH Don’t Quell Its Enthusiasm For Phase III
Privately held biotech plans to move insulin sensitizer into Phase III with ambitious goals of obtaining accelerated approval based on liver histology, while also trying to show long-term cardiovascular benefits.
Finance Watch: Nkarta, Passage Bio Raise Venture Capital Mega-Rounds
Private Company Edition: Nkarta, Passage Bio and Achilles kicked off September with VC deals totaling more than $100m each. Also, Repare raised $82.5m and SutroVax won CARB-X cash.