Finance Watch: Biopharma Stocks Attempt An April Rebound
First IPO Since February Raises Nearly $10m
Executive Summary
Public Company Edition: With the XBI up more than 9% in April, a few follow-on offerings –$23m to support Gamida Cell’s small product launch and $500m to fund Vaxcyte’s large clinical trial program – have made it to market. Also, China’s CytoMed launched the sixth biopharma IPO in the US this year.
You may also be interested in...
Travere Looks Ahead To Phase III In Homocystinuria
The latest data from a Phase I/II study shows that pegtibatinase can yield a rapid, sustained reduction in homocysteine, the protein behind the underlying cause of the rare disease.
Finance Watch: Kenvue, Acelyrin Launch Biggest Biopharma IPOs Of 2023
Public Company Edition: J&J’s consumer health spinout Kenvue grossed $3.8bn in its public market debut and Acelyrin raised $540m in an upsized IPO. Also, Seres accessed $250m in new debt for Vowst commercialization while follow-on offerings raised $325m for ImmunoGen and $240m for Morphic.
Nektar Restructures A Second Time, Focusing Squarely On Immunology
A year after reducing headcount by 70%, Nektar is trimming another 60% and looking to partner out cancer candidate NKTR-255 to focus on rezpeg for atopic dermatitis, with or without Lilly’s help.