Finance Watch: Four New IPOs Hold Steady In First Days Of Trading

Sarepta, Relay, Bicycle, Crinetics Launch Large Follow-Ons

Public Company Edition: Xilio, Ventyx, MiNK and Context went public in the US and later traded at or above their initial public offering prices. Also, Sarepta raised $500m and Relay grossed $350m in new offerings, while Oncopeptides, Esperion, Zymergen and Ardelyx reorganized and cut jobs.

The four most recent initial public offerings by biopharmaceutical companies have had a relatively warm welcome to the US stock market, with all four holding steady or rising compared with their IPO values. Compared with their 88 peers that launched first-time offerings during the first three quarters of 2021, the majority of which are trading below their IPO values, the latest group of newly public drug developers got off to a good start.

Biopharma IPOs in the US this year broke the record of 86 first-time offerings in 2020 before the end of...