Finance Watch: Phathom IPO Meets Pricing Goal; Cabaletta, TFF Offerings Go Low
Public Company Edition: Phathom went public in the US within proposed pricing terms, but Cabaletta’s IPO went to market below a proposed range, while TFF launched in line with earlier plans. Also, Principia’s FOPO raises $210m and Trillium restructures.
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Genentech reports that Rituxan yields better results over 52 weeks in pemphigus patients than off-label use of CellCept. Principia, meanwhile, unveils positive Phase II data for its pemphigus candidate.
Public Company Edition: SpringWorks has the biggest IPO ambitions of recent US filers. Also, Deciphera raises $400m after good data and Protalix seeks strategic alternatives.
Public Company Edition: The prior day's after-hours bad news sent biotech stocks lower on 9 August, and IPOs are taking a breather with the NBI down 2.1% over the past month. However, already public companies are raising cash, including Allakos and Ironwood at $350m each.