Finance Watch: BioNTech, Vir Launch IPOs But Take US Offerings To Market At A Discount

BioNTech's $150m offering, after a prior large venture capital financing, gives it the third-largest market cap for a newly public drug developer in the US. Also, Innovent raises $300m in Hong Kong offering, Heron leads US follow-ons and Five Prime restructures to save $20m annually.

Two highly anticipated initial public offerings finally launched on 10 October and landed at the low end of their proposed IPO price ranges, but both BioNTech SE and Vir Biotechnology Inc. are among the 10 most highly valued biopharmaceutical companies at the time of their public market debuts in the past decade.

The IPO-tracking firm Renaissance Capital said in a 10 October report that BioNTech's market capitalization at the time of its...

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