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Finance Watch: Biopharma IPOs Regain Momentum With Slate Of New Offerings

Four Companies Went Public On 18 March, Raising $678.8m

 
• By Mandy Jackson

Public Company Edition: Instil Bio, Connect Biopharma, Finch Therapeutics, Gain Therapeutics and four heath care-focused SPACs launched initial public offerings; Endo raised $1.3bn via note sale; and Rubius Therapeutics, Solid Biosciences and others priced follow-on offerings.

Finance Watch

Biopharmaceutical companies have launched 26 initial public offerings in the US this year as of the start of the week, including four offerings that priced on 18 March and raised $678.8m for Instil Bio, Inc., Connect Biopharma Holdings Ltd., Finch Therapeutics Group and Gain Therapeutics, Inc.

The IPO market seems to be regaining its momentum after just three drug developers went public in January, followed by 17 first-time offerings during the first half of February. After that big bolus of IPOs, the market took a few weeks break from biopharma until Prometheus Biosciences Inc. and Longboard Pharmaceuticals, Inc. went public on 11 March. With 86 IPOs in 2020, the quarterly average was 22 offerings, so with 26 so far in 2021 this year is ahead of last year’s record-setting pace

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