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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Public Company Edition: Five out of six drug developers and a CRO have seen their values spike immediately after going public this month. Also, Moderna floats a $500m offering, Revance proposes a $20m note sale, and Nestle invests another $200m in Aimmune.
Public Company Edition: At the J.P. Morgan Healthcare Conference and Biotech Showcase it was noted that the US IPO market is likely to be less active in the second half of the year as election risk chills investment. Also, Apellis leads recent follow-on offerings.
The new year starts with a strategic shift by Intrexon. Also, Roivant and Sumitomo Dainippon launch Sumitovant, Melinta reorganizes through Chapter 11 bankruptcy, Acorda arranges debt relief and CF PharmTech raises a $90m series E round.