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Finance Watch: Five Biopharma IPOs Bring US Total To 60 In 2021

Four To Go Public Via SPAC, Including Pardes Biosciences

 
• By Mandy Jackson

Public Company Edition: Almost halfway through the year, initial public offerings equal nearly three-quarters of the 2020 total. Also, Pardes is one of four new SPAC mergers; HUTCHMED launched an IPO in Hong Kong; and Zentalis, Theravance and BioXcel launched follow-on offerings.

Finance Watch

Another big batch of biopharmaceutical company initial public offerings in the US brings the 2021 total to 60 IPOs as drug developers continue to take advantage of the rising valuations that the industry has experienced since Biogen, Inc. and Eisai Co., Ltd. won US Food and Drug Administration approval for Aduhelm (aducanumab) in Alzheimer’s disease.

The 2021 IPO total midway through the year is nearly three-fourths of the record-breaking 2020 total of 86 biopharma companies that went public in the US last year. (Also see "IPO Year In Review: Record-Year Bodes Well For 2021, And For More SPACs" - Scrip, 28 January, 2021.) And new drugs and innovative technologies continue to boost investor sentiment regarding the drug development industry, making it more attractive for companies to go public. News of successful in vivo CRISPR/Cas9 gene editing in humans boosted the stock of Intellia Therapeutics, Inc. by 50.2% on 28 June, contributing to a 0

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