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Finance Watch: ORIC Raises $120m In Another Pandemic Era Biopharma IPO

 
• By Mandy Jackson

Public Company Edition: ORIC’s initial public offering is the third by a drug developer in April and the 12th in 2020. Also, Pluristem garnered €50m from the European Investment Bank.

Finance Watch

Biopharmaceutical companies continue to buck the broader trend of initial public offerings being on hold with ORIC Pharmaceuticals Inc. as the latest company to launch an IPO despite ongoing economic uncertainty tied to the COVID-19 pandemic.

ORIC’s offering of 7.5m shares at $16 on 23 April, which grossed $120m before the sale of additional shares to meet overallotments, was the third biopharma IPO in April and the 12th one this year

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