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Finance Watch: NGM Bio Is Second NASH IPO In Two Weeks

 
• By Mandy Jackson

Public Company Edition: NGM went public a week after Genfit, but endured a rockier start, trading below its IPO price. Also, Blueprint, Tricida and Sangamo launch large offerings after positive clinical and regulatory updates.

Finance Watch

NGM Biopharmaceuticals Inc. launched the 11th biopharmaceutical initial public offering in the US this year and was the second non-alcoholic steatohepatitis (NASH) drug developer to initiate an IPO in 2019, but the company's stock didn't fare as well as NASH company Genfit SA's shares a week earlier.

South San Francisco-based NGM Bio priced 6.67m shares at $16 each on April 3 to net $95.7m before the sale of additional shares to meet overallotments; it also will net $65.9m from a concurrent private placement of shares with its partner Merck Sharp & Dohme Ltd

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• By Mandy Jackson

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

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