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IPO Update: TiGenix Debuts In December After Motif Launched In November As 2016 Offerings Best 2015

 
• By Mandy Jackson

Motif Bio and TiGenix were the 29th and 30th biopharma IPOs in 2016 with the only first-time offerings for November and so far in December, but looking at performance so far this year, IPOs by therapeutics firms in 2016 continue to outperform 2015 offerings.

TiGenix NV’s Dec. 14 initial public offering was the first biopharmaceutical IPO this month and the 30th for the year, but while 2016 has seen half as many IPOs as 2015, the new crop of publicly traded therapeutics companies are providing much better yields than their 62 peers who launched offerings last year.

TiGenix grossed $42.6m from the sale of 2.75m American depository shares (ADSs), representing 55m ordinary shares, at $15.50 per ADS, which was a 14% discount to the Belgian allogeneic stem...

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