Finance Watch: Certain Offerings Find Their Way To Investors In Tough Market
Some FOPOs Launch, While A Few SPAC Deals Crash
Executive Summary
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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Finance Watch: Structure Launches Third And Largest US Biopharma IPO Of 2023
Public Company Edition: Structure Therapeutics’ upsized initial public offering raises $161.1m, surpassing proposed terms for up to $134.3m. Also, Pliant capitalizes on good data with a $287.5m follow-on offering, while Magenta seeks strategic alternatives and Instil reveals more job cuts.
Deal Watch: AbbVie Leads J.P. Morgan Deal Rush, But BI, Genentech And Lilly Also Big Players
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