Finance Watch: Biotech Stocks Down, But Holding Up Better Than Broader Indices
Executive Summary
Public Company Edition: Benefitting from hope that biopharma interventions will help the coronavirus pandemic, the industry is faring better than others in the stock market, including the ability to launch IPOs. Also, BridgeBio leads recent financings and PDL is on track to dissolve by year-end.
You may also be interested in...
Finance Watch: Ten IPOs In Three Days Raise $1.9bn
IPO Edition: Sana leads the group with a $587.5m initial public offering, while Immunocore and Bolt follow with $200m-plus IPOs. The 10 newly public companies generated a 43.3% average return on 8 Feb.
Finance Watch: Ayala Launches First Biopharma IPO In May
The cancer drug developer raised $55m. Also, Lyra raised $56m in the last of four biopharma IPOs in April, Biogen sold $3bn worth of debt, Oberland raised a $1.05bn fund and Praxis launched with more than $100m.
Finance Watch: iTeos, Pandion And Aspen Show COVID-19 Hasn’t Slowed VC Deals Yet
Aspen Neuroscience, Pandion and iTeos raised $70m, $80m and $125m, respectively. Also, Glide Healthcare closed a €416m ($450m) fund; ElevateBio, Kallyope and SutroVax reveal VC mega-rounds; and Dragonfly adds new funding to its partnering proceeds.