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Finance Watch: Investors Bet On Hope As Four Early-Stage Companies Launch US IPOs

Executive Summary

Public Company Edition: Of five drug developers expected to go public, four have preclinical or early clinical candidates, while the one that could not find a market for its IPO is in Phase III. Also, Biohaven, Zymeworks and Kura raise $100m or more in follow-on offerings.

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Finance Watch: The Biggest Biopharma IPO Of 2024 May Not Happen In The US

Public Company Edition: Galderma proposed pricing for its $2.6bn Swiss public market debut. Also, Apogee and Akero lead follow-on offerings with $483m and $366.9m, respectively, and Lexicon’s private placement brings in $250m, while Spruce reveals a 21% workforce reduction.

Finance Watch: Resilience Raises $625m, Bringing New Cash To $1.2bn

The biomanufacturing firm National Resilience has raised more than $2bn in venture capital and millions more in fees from government and industry contracts since 2020. Also, Code Biotherapeutics raised $75m in series A cash, Concert grossed $66.4m and Amarin is cutting US jobs. 

Deal Watch: GSK Makes $85m Wager On Surface’s Preclinical NK Cell Therapy

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