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Finance Watch: Will Biotech Stock Rebound Keep IPOs Coming?

Rain Therapeutics, Impel NeuroPharma Go Public As Valuations Rise

 
• By Mandy Jackson

Public Company Edition: The Nasdaq Biotechnology Index appears to be in recovery from an earlier slide, but still has ground to make up. Also, Jazz sold $1.5bn worth of notes and Zai Lab closed an $823.9m follow-on offering.

Finance Watch

Two drug developers went public – Rain Therapeutics Inc. and Impel NeuroPharma, Inc. – late on 22 April, closing out a week that ended with the Nasdaq Biotechnology Index (NBI) in positive territory. A rising NBI was not so remarkable in 2020 when a record number of biopharmaceutical companies launched initial public offerings, but in 2021 the index has fallen substantially from its February peak.

To date, the performance of the NBI and other closely watched barometers of biotech stock valuations, such as the iShares...

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• By Sarah Karlin-Smith and Mandy Jackson

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