It's hard to say definitively that there's a bubble in the US market for initial public offerings, but among biopharmaceuticals firms in particular it certainly feels that way, given the recent boom in IPOs.
Finance Watch: Is The IPO Boom Making Anyone Nervous Yet?
Public Company Edition: Is the IPO bubble getting ready to burst? It's anybody's guess, but biopharma companies are forging ahead, having launched 11 first-time offerings during the past week and a half. Also, Heron leads recent follow-on offerings with a $200m stock sale to fund what may soon be its third commercial product.
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There were six biopharma initial public offerings on Western stock exchanges, including five in the US, during the first quarter, but plunging stock values could halt further IPOs.
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Public Company Edition: Stock valuations are falling due to political, economic and regulatory uncertainty, resulting in fewer large public offerings, more alternative financings and cost cuts. Carisma, Tenaya, BioAtla, Arbutus, Nkarta, Alector and Adaptimmune announced layoffs.
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CEO Kris Elverum told Scrip about the start-up’s platform for editing RNA to correct genetic variants that cause harm and to reproduce healthy variants as a means of treating disease.
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The four-year-old firm said it plans to advance programs toward the clinic from the funding round, which comes just over a year after signing two major pharma partnerships.
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There were six biopharma initial public offerings on Western stock exchanges, including five in the US, during the first quarter, but plunging stock values could halt further IPOs.
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Sector-specific tariffs, including on pharmaceuticals, could be announced as early as this week.
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The pact could be worth more than $2.6bn and adds to growing big pharma investment in the technology.