Finance Watch: Moderna Launches Biggest Biopharma IPO Ever As US Market Resets Expectations

Public Company Edition: Moderna's $604m IPO launches as the US stock market is in decline and public biotechs are doing especially poorly. Also, as Shire acquisition closing moves near, Takeda firms up additional financing; and Global Blood, Theravance, Amarin capitalize on good news.

Finance Watch

Moderna Inc. launched the much anticipated, largest-ever drug developer initial public offering raising $604.3m on Dec. 6, but the IPO landed with a thud, reflecting ongoing unease in the US stock market, which has been particularly uncomfortable for biotechnology stocks.

The Cambridge, Mass.-based developer of messenger RNA (mRNA) therapeutics and vaccines sold 26.3m shares at $23 each, but saw its...

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