Finance Watch: Amylyx, CinCor And Vigil Ready The First Biopharma IPOs Of 2022
First-Time US Offerings Could See A Strong Start
Executive Summary
Public Company Edition: Mergers with special purpose acquisition corporations also continue to take companies public, with three new SPAC offerings in late 2021. Also, Xeris raised $30m in a private placement of stock to support its recently approved drug and Sirnaomics went public in Hong Kong.
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Finance Watch: Public Biopharma Firms Take Advantage Of Relative Upswing
Public Company Edition: Prometheus brought in $500m from a follow-on offering after reporting positive mid-stage results for its TL1A inhibitor. Even Novavax, struggling to make money from its COVID-19 vaccine, raised cash in dual offerings, but its valuation dropped significantly afterward.
CinCor Plans Baxdrostat Phase III Despite Phase II Miss In Uncontrolled Hypertension
With subgroup analysis that it claims shows efficacy in non-Hispanics and success in a previous Phase II in treatment-resistant hypertension, CinCor plans to outline Phase III plans to FDA in early 2023.
RNAi Developer Sirnaomics Targets Untapped Oncology Indications In China
The US- and China-based biotech is expanding three oncology-centered clinical studies of two TGF-1/COX-2-targeted siRNA drug candidates from the US into China.