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Finance Watch: Biopharma IPO Market Silence Continues In The US

Three Potential Offerings, Including Two Micro-Caps, Recently Filed

Executive Summary

Public Company Edition: The last biopharma IPO in the US was on 17 February and none have been scheduled, so far, for March. Also, another SPAC merger is called off, Travere sells $275m worth of notes and Xeris secures $150m in new debt, while Ovid, Passage Bio and others are cutting jobs. 

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Finance Watch: More Job Cuts As Companies Prioritize Cash Conservation

Public Company Edition: Applied Molecular Transport, Scholar Rock, Agios and others join many of their peers in revising their strategies and downsizing their teams. Also, Zentalis grossed $200m from a follow-on offering and OKYO Pharma went public in the year’s smallest biopharma IPO in the US. 

Finance Watch: VC Enthusiasm For Biopharma Continues As 5AM Ventures Raises $750m

Private Company Edition: 5AM revealed two funds totaling $450m and $300m, V-Bio raised a €110m venture capital fund and AXA IM Alts committed $500m for health care private equity deals. Also, TRIANA launched with $110m and the AMR Action Fund backs Adaptive Phage Therapeutics.

Finance Watch: Public Markets Open Back Up For Biopharma Offerings

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. 

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