IPO Year In Review: Late Rally Gives 50 Newly Public Biopharma Firms A 45.1% Average Return
First-time offerings by drug developers fell from 2018 when 67 launched, but IPO investors’ fortunes improved with a year-end rally providing a 45.1% return versus a 7.5% loss in the prior year.
You may also be interested in...
The average return for companies that went public in the US through the end of September was 49.4% as of 5 October. The fourth quarter started with four additional initial public offerings on 1 October.
ES: Public Company Edition: Fifty biopharma companies launched initial public offerings in the US last year and there have been 52 so far in 2020, including Metacrine, Dyne, Athira and COMPASS.
Lead immuno-oncology asset NC318 targeting Siglec-15 showed encouraging early activity in patients refractory to PD-1/L1 inhibitors, but now Phase II plans are scuttled in lung and ovarian cancers.