IPO Update: 58 Drug Developers Raised $12.5bn Through Q3
With Three More In Q4, 2020 Total Reaches 61
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 three additional initial public offerings on 1 October.
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With 88 initial public offerings in the US through the end of the third quarter of 2021, the biopharma industry is two IPOs ahead of the full-year 2020 total, but with an average return of -4% momentum may slow.
Public Company Edition: Eight drug developers launched initial public offerings in the US that grossed $1.46bn combined during the week of 14 to 18 June as biotechnology stock values increased. Also, C4 Therapeutics led recent follow-on offerings, raising $180.8m.
Public Company Edition: Lilly’s COVID-19 antibody partner AbCellera launched one of the biggest IPOs of 2020, bringing in $483m. Also, two more SPACs went public; Sinovac, Biocryst and Kura Oncology arranged large financings; and Viatris plans post-merger layoffs.