Finance Watch: IPO Momentum Slows But Biopharma Stocks Get An ASCO Bump

First-Time Offerings Still Total 44 In The US So Far In 2021

Public Company Edition: There was just one initial public offering during the past two weeks, but another biotech-focused SPAC went public and Gingko Bioworks announced a high-value SPAC merger. Also, Insmed and Dynavax offerings led recent public company financings.

Finance Watch

The market for initial public offerings by biopharmaceutical companies in the US slowed considerably in May after the fast-paced first four months of 2021, which is not surprising given the fact that stock values have fallen about 2% since the end of April. Some of the decline has been recouped, however, since the American Society of Clinical Oncology released abstracts on 19 May for data being presented during the group’s 4 to 8 June meeting.

It remains to be seen whether the ASCO boost continue to increase investor enthusiasm for drug stocks. But while the...

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