Finance Watch: Genfit Launches IPO To Expand US Presence Ahead Of Phase III NASH Results
Public Company Edition: COO Dean Hum talked to Scrip about Genfit's IPO strategy – which wasn't just about raising money – as it anticipates Phase III elafibranor data later this year. Also, Precision BioSciences launches its IPO, while Myokardia, Dermira and Tricida lead new public company financings.
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The cancer drug developer raised $55m. Also, Lyra raised $56m in the last of four biopharma IPOs in April, Biogen sold $3bn worth of debt, Oberland raised a $1.05bn fund and Praxis launched with more than $100m.
Co-founder and CEO Mouney will turn over the reins to former GSK and Lilly exec Pascal Prigent in mid-September.
Public Company Edition: IPO performance has been mixed in 2019, but May has been the busiest month this year. Also, Insmed leads recent follow-on offerings and Dynavax restructures.