IPO Update: Returns Rebound As June Sees Its First New Biopharma Offering

MeiraGTx was the first to go public in the US in June after six drug developer IPOs launched in May. With returns for this year's first-time biopharma offerings more than doubling from 9% at the end of April to 23.6% as of June 8, four new companies have filed and six have set terms for future IPOs.

April was a rough month for biopharmaceutical companies launching initial public offerings in the US this year, but with a substantial rebound in newly public drug developers' valuations in May, six more priced IPOs last month and MeiraGTx Holdings PLC was the first to take the plunge in June.

The average return for biopharma firms that went public in the US in 2018 was just 9% at the end of April, but the average return soared to 23.6%, as of June 8, for drug developers that have priced IPOs so far this year, including the MeiraGTx offering on June 7 (see table below)

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