Finance Watch: Biopharma IPOs Regain Momentum With Slate Of New Offerings
Four Companies Went Public On 18 March, Raising $678.8m
Public Company Edition: Instil Bio, Connect Biopharma, Finch Therapeutics, Gain Therapeutics and four heath care-focused SPACs launched initial public offerings; Endo raised $1.3bn via note sale; and Rubius Therapeutics, Solid Biosciences and others priced follow-on offerings.
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Only 25 more initial public offerings are needed for 2021 to beat 2020’s record-breaking 86 IPOs. However, the average return for this year’s offerings is just 1.1% as of 1 July versus 11% at the end of the first quarter.
Argenx partners with Elektrofi and Iontas; China’s Qilu obtains global rights to Peptron’s antibody-drug conjugate and also ends co-development pact with Quantum Genomics.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.