IPO Update: Mid-Year Average Return Deceptively Positive In Down Market
Outlier Leads To 25% Gain For 2022 Offerings
Executive Summary
The 14 biopharma firms that went public during the first half of the year generated a 25% average return, helped by an outlier whose value rose 585%. Excluding Belite Bio, the -18% return for the IPO class of 2022 is more representative of current market realities.
You may also be interested in...
Finance Watch: Public Market Opens Up Enough To Let An IPO Through
Public Company Edition: MAIA launches a $10m initial public offering, the first in the US since May, but NewAmsterdam opts for the SPAC route to the stock market. Also, Legend raises $350m in a follow-on offering, Iveric obtains access to $250m in debt and Otonomy cuts costs after a Phase II failure.
‘The Next Tulip Mania?’ – Fidelity, Gurnet, Biogen Put A Lens To Funding, Valuations
Venture capital funding for biotechs remains aplenty even as listed companies’ stock prices drop. Biogen’s Papadopoulos, Fidelity’s Kaul and Gurnet’s and ex-Sanofi Viehbacher deliberate on whether there is a valuation disconnect and if this is the next "tulip mania."
Will Amylyx’s ALS Drug Benefit From US FDA’s Aduhelm Experience?
A rare second advisory committee meeting is scheduled for Amylyx’s ALS drug to discuss additional analyses that the company submitted, allowing another glimpse into the FDA’s pre-decision thinking.