The US market for initial public offerings after the COVID-19 pandemic closed the IPO window in mid-March is almost entirely a gloom-and-doom scenario. The one bright spot is the biopharmaceutical sector, where companies continue to go public and generate significant returns for investors.
Of the 11 drug developers that launched IPOs so far this year, including two in April, only four are trading in negative territory and the group provided an average return of 20.98% as of 15 April (See table below). Returns ranged from 69.88% for Keros Therapeutics Inc., which went public at $16 per share on 7 April and rose to $27
