IPO Year In Review: Record-Year Bodes Well For 2021, And For More SPACs
86 Drug Developers Raised $17bn, Generated 86% Average Return
Executive Summary
Biopharma was an attractive investment in 2020 and fundamentals are unchanged in 2021, including the pandemic’s work-at-home requirements, which allowed more companies to go public faster.
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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.
Finance Watch: Lightstone Ventures Closes $375m Fund To Back Early Stage Biotechs
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