IPO Update: Pace Of US Offerings Slows As 13 Biopharmas Go Public In 2019
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.
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Public Company Edition: Jefferies report notes robust IPO market, but SVB Leerink predicts a financing slowdown. Also, Mirati raises cash for KRAS programs after Amgen's ASCO data and a strategic shift results in job cuts at ImmunoGen.
The VC firm known for its new company formation efforts will launch 10-12 biopharma, device and diagnostic ventures with its fifth fund. Also, EpimAb raises a $74m series B round, three more drug developers join the IPO queue and Amicus leads recent follow-on offerings.
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.