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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

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• By Andy Smith

Investors welcomed Bavarian Nordic’s and Bayer’s earnings announcements. However, both stock prices declined over the day of their reports as the impact of recent pressures weighed.