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

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