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IPO Outlook: 2021 Saw Record Numbers But Poor Returns; 2022 Looks Muted

Number Of 2021 Offerings Exceeded 2020, But Returns Faltered

Executive Summary

Initial public offering momentum decelerated as stock prices declined last year, but even with lower valuations making M&A more attractive, the IPO market this year is expected to be active. 

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J.P. Morgan 2024: Financial Forecast Is Sunny For Firms Poised For Pharma Deals

Drug developers weathered a tough 2023, but the year ended with new clarity about interest rates and big pharma M&A priorities, reducing the risk of financial storms in 2024, investors and advisors said.

J.P. Morgan 2024: Financial Forecast Is Sunny For Firms Poised For Pharma Deals

Drug developers weathered a tough 2023, but the year ended with new clarity about interest rates and big pharma M&A priorities, reducing the risk of financial storms in 2024, investors and advisors said.

US IPO Market In 2022 Even Underperformed Normal Years

INFOGRAPHIC: The number of biopharma offerings in 2022 was far below records set in 2020 and 2021, but also below more normal years of 2018 and 2019. The IPO class of 2022 eked out a positive average return, however.

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