Finance Watch: With Four More IPOs, July May Match Or Exceed June’s 14
Public Company Edition: iTeos, Annexon, Nurix and Inozyme went public on 23 July and now CureVac has added its name to the IPO queue for what could be a large offering. Also, BioNTech raises $511.5m as COVID-19 vaccine progresses and PTC gets $650m from sale of risdiplam royalties.
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CureVac raised hundreds of millions of dollars this year before its $213m initial public offering as its mRNA vaccine technology moved into the COVID-19 spotlight. Its stock price tripled on its debut.
The US government’s order of 100 million doses for $1.95bn means the implied price for Pfizer/BioNtech's vaccine is $19.50 per dose. That could set a benchmark for solid near-term revenue and profitability for companies in the space.
While data from small trials are difficult to compare, it appears that T-cell responses to BNT162b1 may be stronger than those reported so far for Moderna’s competing mRNA-based vaccine.