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Finance Watch: Revolution Medicines Continues 2020’s Post-IPO Trend

 
• By Mandy Jackson

Revolution has just one drug in the clinic, but its focus on KRAS excited IPO investors. Also, Deciphera’s $175m offering leads recent follow-ons and Spruce raises $88m in venture capital.

Finance Watch

Revolution Medicines Inc. continued this year’s biopharmaceutical initial public offering trend by closing well above its IPO price on its first day of trading. In fact, investors have been so intrigued by the company’s pipeline of KRAS inhibitors for the treatment of cancer that they’ve pushed Revolution’s stock price higher almost every day since the offering. 

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Alis Biosciences Launches To Free Cash From Stalled-Out Biotechs

 
• By Mandy Jackson

As investors have begun to ask troubled drug developers to suspend operations and return remaining cash to shareholders, Alis has stepped forward with a new fund aiming to facilitate that.

Finance Watch: Investors Push ESSA Pharma, Elevation Oncology To Wind Down

 
• By Mandy Jackson

Restructuring Edition: ESSA and Elevation are reviewing strategic alternatives after trial failures, but each has an investor urging them to liquidate. Also, Third Harmonic and Vincerx are winding down, while Keros and Tempest are assessing options, but Opthea and OPM are cutting jobs.

Finance Watch: Biopharma Sees An Early April VC Mega-Round Surge

 
• By Mandy Jackson

Private Company Edition: After Q1 venture capital investment slumped relative to 2024 totals due to declines in both smaller financings and mega-rounds, Q2 started off with six $100m-plus financings in the first half of April after there were only three in February and six in all off March.

Glycomine Funds Phase IIb Rare Disease Trial With $115m Series C

 
• By Mandy Jackson

Lead drug GLM101 will move into its first placebo-controlled trial based on positive results in adults and adolescents with PMM2-CDG in an open-label Phase IIa study.

More from Business

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• By Jung Won Shin, Lisa Takagi, Joseph Haas, Anju Ghangurde, and Vibha Ravi

Plus deals involving Elix/PRISM, Rege/Syros, Kaken/KalVista, Dr. Reddy’s/Aurigene/Edity, Nissan Chemical/Sanwa, Lupin/Renascience, Shionogi/Link Medicine, Abbisko/Merck & Co., Ono/Reborna and Apollomics/LaunXp.

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• By Joseph Haas

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• By Edwin Elmhirst

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