Finance Watch: Three New Biopharma IPOs In The US With Eight More Entering The Queue
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.
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IPO Edition: Sana leads the group with a $587.5m initial public offering, while Immunocore and Bolt follow with $200m-plus IPOs. The 10 newly public companies generated a 43.3% average return on 8 Feb.
Blueprint and Zymeworks raise $300m-plus in follow-on offerings. Also, Arcutis, Black Diamond and Annovis bring the 2020 US IPO count to four; Spring Bank, Surface Oncology and Decibel reveal strategic shifts; and Harmony’s $200m in venture debt leads recent VC deals.
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.