Finance Watch: Evotec, LianBio, IO Biotech Launch IPOs, Bringing US Total To 101
Two More Health Care SPACs Also Went Public
Public Company Edition: Blade will merge with a special purpose acquisition corporation to go public, Bluebird spins out 2seventy with $442m in cash and Compass raises $125m in a move to the Nasdaq.
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Public Company Edition: The stock market has been unkind to biotech firms but investors rewarded some drug developers for clinical trial successes, including Scholar Rock and Day One, which raised $205m and $172.5m, respectively. However, some SPAC deals and an IPO never got off the ground.
Public Company Edition: An IPO and three big follow-on offerings hit the market but other public companies revealed plans to cut costs or reprioritize their R&D pipelines, signaling that uncertainty remains.
Its Q4 earnings report was not the first time that bluebird mentioned selling priority review vouchers it has not received yet, but the PRV revenue is needed to fund operations beyond 2022.