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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 a proposed $16 to $17 range – and its stock closed at $28.90 on 13 February. Of the seven drug developers that have launched IPOs in the US so far this year, six closed higher on their first day of trading

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