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...