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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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.
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.