Finance Watch: 2020 Is Four Biopharma IPOs Away From Matching 2019

With 46 initial public offerings in the US by drug developers so far – including recent launches by Kymera, Inhibrx and Harmony – 2020 will easily beat last year’s 50 IPOs. In follow-on offerings and VC deals, newly public Schrodinger raised $346.5m and Tango’s $50m equity financing.

It will take only four more initial public offerings in the US by biopharmaceutical companies for 2020 to match the full-year total of 50 drug developer IPOs in 2019. First-time offerings by Kymera Therapeutics, Inc. on 20 August and on 18 August by Inhibrx, Inc. and Harmony Biosciences, LLC brought this year’s total to 46 IPOs.

The COVID-19 pandemic has caused economic uncertainty globally, but the biopharma stocks have outperformed most other industries, in part because...

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