Finance Watch: Janux Offering Makes 47 Biopharma IPOs In 2021, So Far

Will Boost From ASCO, Aduhelm Improve Investor Sentiment?

Public Company Edition: The pace of US initial public offerings slowed a bit in April and May but could ramp back up in June as biopharma investor sentiment rebounds. Also, drug developers continue to go public via SPAC mergers, most recently Valo Health with a $2.8bn post-deal valuation.

Finance Watch

Janux Therapeutics brought the number of biopharmaceutical initial public offerings in the US this year to 47 when it priced an IPO of 11.4 million shares at $17 each on 11 June to gross $193.8m. The San Diego-based company, which is developing T-cell engagers for the treatment of solid tumors, was only the first drug developer to go public in June, but the pace of IPOs could ramp back up to the 10-per-month pace of the first quarter if investor sentiment in this sector continues to improve.

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