1. Scrip
  2. >>Business
  3. >>Financing

Finance Watch: Vaccinex, Aridis Launch August's First US IPOs As The Summer Simmer Slows

 
• By Mandy Jackson

The summer slowdown finally seems to have hit the US biopharma IPO market; after a hot July with nine offerings, there were just two during the first half of August. Also, Zogenix leads recent follow-ons with a $312m offering; venture capital planted in UK biotechs – Orchard and Blueberry.

Finance Watch

Vaccinex Inc. and Aridis Pharmaceuticals Inc. were the first and second drug developers to launch initial public offerings in the US during the first half of August. And since the warm month is lagging a hot July, it appears that a summer cool-off may finally have set in for the biopharmaceutical IPO market.

There were nine biopharma IPOs in July, bringing this year's total to 45 first-time offerings in the US. But the 46th and 47th offerings also are some of 2018's smaller IPOs, with Vaccinex grossing $40m from the sale of 3.33m shares at $12 each on Aug

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Financing

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By Mandy Jackson

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

HAYA Raises $65m To Take First Long Non-Coding RNA Program Into The Clinic

 
• By Mandy Jackson

HTX-001 targeting the long non-coding RNA known as Wisper is being developed for non-obstructive hypertrophic cardiomyopathy. HAYA partnered with Lilly last year in obesity.

Sanofi R&D Head’s Words Of Wisdom For Biotechs

 
• By Kevin Grogan

Houman Ashrafian tells delegates at Swiss Biotech Day that ‘literally only two things matter in our industry – target credentialing and differentiated pharmacology. The rest is execution.’

Switzerland Biopharma To Stay Strong Despite More Cash Going To US And China

 
• By Kevin Grogan

The sector is continuing to show resilience despite financial and market challenges.

More from Business

Q1 S&E In Brief: Tracking New Launches And Catalysts In Biopharma

 
• By Jessica Merrill and Joseph Haas

Neurocrine, Madrigal and Vanda updated investors on new drug launches, while Cytokinetics talked to investors about an FDA extension for aficamten.

Which Firms Are Most Exposed To Prasad’s Possible Accelerated Approvals Clampdown?

 
• By Andrew McConaghie

Vaccine and accelerated approvals are expected to face greater scrutiny under new CBER leader Vinay Prasad, but he has promised “no light switch change” to policy, giving some reassurance to companies whose share prices have been battered.

Building Up US Biopharma Manufacturing Will Require Investments In Talent

 
• By Jessica Merrill

Workforce development will be essential to meeting president Trump’s goal to return biopharma manufacturing to the US.