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Finance Watch: Billions Of Dollars In Offerings Despite US Biopharma Stock Slump

 
• By Mandy Jackson

Blueprint and Zymeworks raise $300m-plus in follow-on offerings. Also, Arcutis, Black Diamond and Annovis bring the 2020 US IPO count to four; Spring Bank, Surface Oncology and Decibel reveal strategic shifts; and Harmony’s $200m in venture debt leads recent VC deals.

Finance Watch

Recent follow-on public offerings (FOPOs) defied the year-to-date decline in biopharmaceutical stock values with FOPOs as large as $325m for Blueprint Medicines Corp. and $320.8m for Zymeworks Inc., hitting the market in late January. 

Big pharma companies left investors feeling good about biopharma stocks in mid-January after spreading the message during the annual J.P. Morgan Healthcare Conference in San Francisco that they are focused on execution this year

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