Finance Watch: Summer Slowdown Begins Ahead Of BIO, But Two IPOs Launched

There have been two biopharmaceutical company initial public offerings so far this month – Athenex Inc. went public on June 14 after Immuron Ltd. jumped in to the US stock market on June 6 – but June is lagging, since at this point in May there were five drug developer IPOs.

Perhaps companies are hoping to generate some buzz at the BIO International Convention June 19 to 22 in San Diego by announcing new financings or partnerships during the meeting, because it's not just IPOs that have slowed this month. There have been only a handful of significant venture capital financings in June – a $14.3m Series B round for Lung Therapeutics Inc. and a $27m Series B for Checkmate Pharmaceuticals Inc. – and the recent wave of large follow-on and other public offerings has leveled off