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Finance Watch: As US IPO Market Gets More Challenging, Two Companies Opt Out

 
• By Mandy Jackson

Public Company Edition: Five biopharma firms went public in the US in recent weeks, but Inhibrx withdrew its IPO and Monopar postponed its offering. Also, Tot Biopharm launched an IPO in Hong Kong, while Epizyme sold royalties and issued debt to raise up to $270m.

Finance Watch

The US market for initial public offerings may be transitioning to a less hospitable environment for biopharmaceutical firms, which have dominated the IPO market in recent years. Five drug developers went public in late October and early November, but Inhibrx Inc. withdrew its IPO plans and Monopar Therapeutics LLC postponed its offering, while a few other companies had to lower their expectations.

RAPT Therapeutics Inc. and Oyster Point Pharma Inc. went public on 30 and 31 October, respectively, while Galera Therapeutics Inc. and CNS Pharmaceuticals Inc. launched their IPOs on 7 November, followed by 89bio Inc. on 11 November

Recent IPO Launches Mixed

Scrip headlines show that first-time offerings struggled in October, foreshadowing the trend of mixed IPO results that continued in November.

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

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