Finance Watch: IPOs Slow As The US Holiday Season Begins
Biopharma Valuations Also Impact New Offerings
Public Company Edition: SVB Leerink predicts a rebound from an ongoing trough in biotech stock valuations during the second quarter of 2022. Also, Vaxxinity launched the third US IPO of November, bringing the year’s total to 102 and BridgeBio led recent financings with a $750m debt agreement.
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Biotech stops enrollment in three Phase II studies of oral Factor D inhibitor BCX9930 after seeing elevated creatinine levels. The halt is voluntary, and enrolled patients can continue dosing, BioCryst says.
Public Company Edition: It has been almost a month since a biopharma firm launched an IPO in the US, but special purpose acquisition corporations continue to take drug makers public, including Alvotech and Aerami. Outside the US, MaaT closed an IPO in Paris and BeiGene priced a Shanghai offering.
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.