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Finance Watch: Biopharma IPOs Defy Broader Stock Performance Trends

 
• By Mandy Jackson

Public Company Edition: With returns for newly public biopharma companies rising, seven more jumped in line to go public in the US between the beginning of February and early March, while two drug developers launched IPOs in the EU. Meanwhile, already public companies keep raising gobs of cash.

Finance Watch

Since already-good returns for January's initial public offerings are rising, seven additional biopharmaceutical companies indicated their intention to launch IPOs in the US between early February and early March.

January's biopharma IPOs delivered an average return of 52.8% by Feb. 1 and the return for those seven companies grew to 63.7% as of March 1, besting by a wide margin relatively slim increases for broader US stock indices during a recent period of volatility

The Nasdaq Biotechnology Index (NBI) is performing relatively well compared with the Dow Jones Industrial Average and Nasdaq, which peaked on Jan. 26 – up 8% and 8.7%, respectively, from the beginning of 2018. But by March 9 the Dow was up only 2.1% while the Nasdaq regained momentum to rise 9

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Hengrui Set For Biggest Biopharma IPO So Far This Year

 
• By Dexter Jie Yan

Jiangsu Hengrui Pharmaceuticals is gearing up for what will be 2025's biggest biopharma IPO so far, hoping to raise up to $1.27bn on the Hong Kong Stock Exchange. China's top drug maker by pipeline size plans to use part of the proceeds to reboot its overseas clinical trials ambitions.

Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

 
• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.

‘Market Developments’ Persuade Galapagos To Rethink Spin-Off

 
• By Andrew McConaghie

CEO Paul Stoffels exits early to be succeeded by Henry Gosebruch, who will now consider ‘all options’ for the Belgian firm as it tries to claw back investor confidence.

Azafaros Banks Over €130m To Advance Nizubaglustat Into Phase III

 
• By Kevin Grogan

The therapy has been developed for GM1 and GM2 gangliosidoses and Niemann-Pick disease type C.

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In Brief: US FDA Delay Sends Biohaven Shares Down

 
• By Andrew McConaghie

The US regulator’s decision has taken Biohaven and investors by surprise, with the reason for a ‘major amendment’ status not clear.

In Brief: Sanofi Commits $20bn To US R&D And Manufacturing By 2030

 
• By Sushmita Panda

Move by French major aligns with broader industry efforts to localize production amid political pressure, as Trump pushes to onshore manufacturing and hints at easing tariff threats.

Eisai Forecasts 73% Leqembi Sales Rise In FY25 As Demand Expands

 
• By Mandy Jackson

Eisai spent most of its FY24 earnings call discussing plans for growing sales of Biogen-partnered Alzheimer’s drug Leqembi from JPY44.3bn ($304.1m) to JPY76.5bn ($525.1m) in FY25.