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IPO Update: Pace Of US Offerings Slows As 13 Biopharmas Go Public In 2019

 
• By Mandy Jackson

With about three IPOs per month compared with a pace of nearly six per month in 2018, drug developers have raised $1.55bn with US offerings this year – though returns have been mixed.

Six IPOs had positive returns and one traded flat as of 1 May. • Source: Shutterstock

Only six of the 13 US initial public offerings in 2019 by biopharmaceutical companies have provided a positive return as of 1 May, which may be why the pace of IPOs has been cut almost in half compared with 2018, when 67 drug developers went public.

The monthly average number of biopharma IPOs last year was 5.58, but that's fallen to 3.25 per month this year as the 2019 offerings have provided an average return of just 4.5% versus the Nasdaq Biotechnology Index (NBI), which is up 11.1% since the beginning of this year. Without the 86% return generated by Turning Point Therapeutics Inc

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