Finance Watch: Inhibikase IPO Brought 2020 US Total To 86
Public Company Edition: The new year started with two companies signaling plans for significant near-term initial public offerings, following Inhibikase’s launch as the last IPO of 2020. Other recent financial highlights include layoffs at Calithera and Regenxbio’s $200m Zolgensma royalty sale.
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Public Company Edition: This year is just six initial public offerings away from matching 2020’s record-breaking total of 86 biopharma IPOs in the US. Also, Idorsia raised $662.5m through the sale of convertible bonds and Cytokinetics closed a $316.3m follow-on offering.
Public Company Edition: Initial public offerings may take a holiday break, but 2020 already has been a remarkable year for IPOs in the US and China. Also, Arvinas led the latest follow-ons with a $400m offering followed by TG Therapeutics with a $275m stock sale.
BMS/bluebird and Janssen/Legend have the leading BCMA-targeting CAR-T therapies for multiple myeloma but Poseida, Allogene, CARsgen, Gracell and CBMG are emerging with novel approaches.