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IPO Update: 28 Biopharma Companies Raise $3bn, Provide An Average 10% Return

 
• By Mandy Jackson

Even though half of the drug developers that have gone public in the US during the first two quarters of the year are providing negative returns, the 13 companies trading in positive territory bring the class of 2019's average return to 10%.

Closed up finger on keyboard with word IPO
28 biopharma companies have raised $3bn in US IPOs this year. • Source: Shutterstock

Fourteen of the 28 biopharmaceutical companies that launched initial public offerings in the US during the first half of 2019 are providing IPO investors with a negative return and one is trading flat as of 28 June. But with 13 firms trading in positive territory, including the three that went public during the last week of June, the average return for this year's IPOs is 10%.

The class of 2019 has raised nearly $3bn, including the $348.5m offering launched on 26 June by BridgeBio Pharma Inc. The rare disease-focused drug development company builder completed this year's largest US biopharma IPO. The best-performing offering in the first half was executed by Cortexyme Inc

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