TABLE: Avalanche outperforms with the week's best IPO
This article was originally published in Scrip
Executive Summary
Gene therapy for eye diseases captured the interest of investors during the week ending 1 August with an initial public offering from Avalanche Biotechnologies that launched at the top of a preliminary price range and a first-day closing price that was 47% above the IPO value.
You may also be interested in...
Case Studies: How Three Public Companies Financed R&D In A Tough Market
The market for public offerings by biopharma companies is tough, but Corbus Pharmaceuticals, Loxo Oncology and Novavax used three different strategies to raise cash from new and existing shareholders.
Finance Watch: Pfizer Adds $3.5bn To Cash Stockpile, Reduces Stake In Haleon
Public Company Edition: Pfizer’s stake in Haleon dropped from 32% to 22.6% with a massive sale of shares of the GSK consumer health spinout. Also, Galderma prices its Swiss IPO, Madrigal grosses $600m in a post-approval offering and bluebird secured up to $175m in debt.
Finance Watch: Another Bevy Of VC Mega-Rounds, Including $175m For Capstan
Private Company Edition: Capstan and Engrail raised $175m and $157m, respectively, in series B venture capital rounds in addition to Madrigal’s $400m-plus launch and Clasp’s $150m series A.