Genmab Plots $500m Nasdaq IPO
Some 20 years after its birth, the Danish biotech has decided the time is right to go west and raise cash through a US listing to drive its pipeline forward.
You may also be interested in...
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%.
Positive top-line results from the MAIA study of daratumumab as a front-line treatment for multiple myeloma highlights the future sales growth potential of Genmab/J&J's CD38-targeted antibody, which could become the market leader in the sector in the next five years.
While Orphazyme's attempts to get approval for arimoclomol failed miserably, new owner KemPharm is confident it can get the oral heat shock protein amplifier across the regulatory finishing line for Neimann-Pick disease type C.