Finance Watch: The Bigger The Better? Erasca, Imago Rise After IPOs
Five Launches Bring 2021 First-Time Offerings Total To 67
Public Company Edition: Three $100m-plus US initial public offerings launched on 15 July after two smaller biopharma IPOs earlier in the month. Also, Gelesis announced a SPAC merger, Brii and Amniotics launched ex-US IPOs, and Intellia, Cerevel and Kymera priced large follow-on offerings.
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Elicio Uses Reverse Merger With Angion To Go Public At Last
After withdrawing IPO plans last September, Elicio thinks merger with Angion will give it a cash runway through end of 2023 to advance ELI-002, a vaccine for mutant KRAS-driven solid tumors.
Merck Plans To ‘Tuck In’ Imago And Its Phase III-Ready Hematologic Candidate
After not closing a deal this year on Seagen, Merck takes a smaller step with a $1.35bn bid for Imago and its candidate for multiple myeloproliferative neoplasm indications.
Finance Watch: Third Harmonic Launches The Largest IPO In Months
Biopharma stock prices overall are trending down again, but standout firms are raising cash, including the first company to price an IPO over $100m since May, Third Harmonic. Also, Sarepta and Alnylam launched large note offerings, totaling $1bn and $900m, respectively.