Biopharmaceutical innovation continues to try and meet patient needs regardless of whether stock prices are up or down, which is a good thing since most drug developers that went public in the US during the first three quarters of 2019 – raising a total of $4.53bn – are trading in negative territory. With initial public offering performance souring, and with the stock market in decline due to US trade war concerns, a pair of firms that were expected to be among the first biopharma IPOs of the fourth quarter postponed their offerings.
IPO Update: 35 Biopharmas Provide -6.1% Average Return; New Offerings Feel Stock Market Impact
Only 16 drug developers that went public in the US during the first three quarters are trading in positive territory. While the IPO queue keeps growing, ADC Therapeutics and Monopar cite "market conditions" as they postpone their offerings.
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