Erasca Inc. and Imago BioSciences, Inc. raised the most money out of the five biopharmaceutical companies that launched initial public offerings during the first half of July, and their stocks were the only two trading in positive territory after their IPOs.
With first-time offerings by Erasca, Imago, TScan Therapeutics, Unicycive Therapeutics, Inc. and TransCode Therapeutics Inc 67 drug developers have launched IPOs in the US so far this year. The 62 companies that went public during the first two quarters of 2021 grossed $10.3bn and generated an average return of just 1.1%
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