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Finance Watch: Investors Bet On Hope As Four Early-Stage Companies Launch US IPOs

 
• By Mandy Jackson

Public Company Edition: Of five drug developers expected to go public, four have preclinical or early clinical candidates, while the one that could not find a market for its IPO is in Phase III. Also, Biohaven, Zymeworks and Kura raise $100m or more in follow-on offerings.

Finance Watch

Five biopharmaceutical companies were expected to go public in the US during the week of 17-21 June, but only four launched initial public offerings and one firm – the one with the most advanced drug development programs – postponed its IPO.

Dermavant Sciences Ltd., with its lead program in Phase III development, apparently has not found a satisfactory market for its now-postponed $124m IPO. However, investors showed that they still are willing to bet on novel biotechnologies, even in very early stages of development, by backing significant first-time offerings from Stoke Therapeutics Inc., Prevail Therapeutics Inc., Atreca Inc

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