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IPO Update: 35 Biopharmas Provide -6.1% Average Return; New Offerings Feel Stock Market Impact

Executive Summary

Only 16 drug developers that went public in the US during the first three quarters are trading in positive territory. While the IPO queue keeps growing, ADC Therapeutics and Monopar cite "market conditions" as they postpone their offerings.

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Finance Watch: IPOs Are In A Slump, But Already Public Companies Have Rallied

Public Company Edition: The last biopharma initial public offering in the US was on 11 November, but follow-on and other offerings are generating hundreds of millions of dollars. Among RNA drug developers, Ionis issued more than $500m in new debt, while Arrowhead raised $266.8m. 

Finance Watch: Big Money For Big Goals Met By Reata, CRISPR, Karuna

Public Company Edition: Also, Teva sells $2.1bn in notes to pay prior debts. In restructurings, Baudax splits off from Recro, while three firms shift their focus to specific cell therapy programs.

Finance Watch: As US IPO Market Gets More Challenging, Two Companies Opt Out

Public Company Edition: Five biopharma firms went public in the US in recent weeks, but Inhibrx withdrew its IPO and Monopar postponed its offering. Also, Tot Biopharm launched an IPO in Hong Kong, while Epizyme sold royalties and issued debt to raise up to $270m.

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