Finance Watch: Certain Offerings Find Their Way To Investors In Tough Market
Some FOPOs Launch, While A Few SPAC Deals Crash
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.
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The little-known company could be set for a transformational year, with a Phase III readout in hepatitis D and a filing for a promising COVID-19 candidate.
The company got FDA approval for the drug in Bardet-Biedl syndrome, on top of the existing approval from November 2020 in obesity due to POMC, PCSK1 and LEPR deficiency.