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Finance Watch: Three New Biopharma IPOs In The US With Eight More Entering The Queue

Executive Summary

Public Company Edition: IPO performance has been mixed in 2019, but May has been the busiest month this year. Also, Insmed leads recent follow-on offerings and Dynavax restructures.

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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. 

Finance Watch: Third Harmonic Launches The Largest IPO In Months

Biopharma stock prices overall are trending down again, but standout firms are raising cash, including the first company to price an IPO over $100m since May, Third Harmonic. Also, Sarepta and Alnylam launched large note offerings, totaling $1bn and $900m, respectively.

Finance Watch: Ten IPOs In Three Days Raise $1.9bn

IPO Edition: Sana leads the group with a $587.5m initial public offering, while Immunocore and Bolt follow with $200m-plus IPOs. The 10 newly public companies generated a 43.3% average return on 8 Feb.

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