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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. 

The Redwood City, CA-based company priced its IPO on 12 February at $17 per share – the high end of...

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More from Financing

BIO Notebook: IPO Window Stays Shut, PRVs Need To Be A Priority, And Focusing On Gene Therapy Safety

 
• By Mandy Jackson and Sarah Karlin-Smith

Highlights from day one of the BIO convention include advice for firms hoping to go public, a call for companies to push the US Congress on rare disease priority review vouchers, and updates on next-generation gene therapies.

Finance Watch: Scorpion Spinout Antares Launches With $177m For Precision Medicines

 
• By Mandy Jackson

Private Company Edition: Antares’ lead asset will enter the clinic in 2026 after Lilly committed up to $2.5bn for Scorpion’s Phase I/II PI3Kα inhibitor STX-478. Also, Amplify raised $200m for its first biotech VC fund and Mosanna raised an $80m series A round, among other financings.

Finance Watch: Insmed Cashes In On Positive Data With $750m Offering

 
• By Mandy Jackson

Public Company Edition: Insmed raised $750m after reporting positive Phase IIb data in PAH, Cogent accessed up to $400m in new debt, Kelun-Biotech netted $250m in a placement of shares and ADC revealed a $100m private placement. In strategic updates, Recursion cut 20% of its jobs.

Spain’s SpliceBio Secures Sanofi and Roche Support In $135m Financing

 
• By Kevin Grogan

Series B cash will be used to advance its Stargardt disease gene therapy.

More from Business

Supernus Secures Sage With CVR-Supported Deal

 
• By Jessica Merrill

Supernus agreed to pay $561m upfront plus a contingent value right that could add $234m to buy Sage, topping a previously rejected offer from Biogen.

Early Blood Cancer Data Impresses As Incyte Plots Post-Jakafi Strategy

 
• By Kevin Grogan

First results for a first-in-class mutCALR-targeted therapy in essential thrombocythemia presented at EHA point to a lucrative future for the early-stage product.

Quick Listen: Scrip’s Five Must-Know Things

 
• By Ian Haydock

In this week's episode: breaking down big pharma’s executive pay; US vaccine panel upheaval; Merck’s RSV approval; MFN and Japan; and the future of Pfizer and Arvinas’s partnership.