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Finance Watch: Public Markets Open Back Up For Biopharma Offerings

AN2 Launches First US IPO In More Than A Month

 
• By Mandy Jackson

Public Company Edition: An IPO and three big follow-on offerings hit the market but other public companies revealed plans to cut costs or reprioritize their R&D pipelines, signaling that uncertainty remains. 

Finance Watch Public Company
• Source: Alamy

Four biopharmaceutical companies saw an opening in the US stock market for new offerings and seized the opportunity before the window could shut again, launching an initial public offering, two follow-on public offerings (FOPOs) and a large sale of convertible notes to raise $1.62bn in a single day.

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Alis Biosciences Launches To Free Cash From Stalled-Out Biotechs

 
• By Mandy Jackson

As investors have begun to ask troubled drug developers to suspend operations and return remaining cash to shareholders, Alis has stepped forward with a new fund aiming to facilitate that.

Finance Watch: Investors Push ESSA Pharma, Elevation Oncology To Wind Down

 
• By Mandy Jackson

Restructuring Edition: ESSA and Elevation are reviewing strategic alternatives after trial failures, but each has an investor urging them to liquidate. Also, Third Harmonic and Vincerx are winding down, while Keros and Tempest are assessing options, but Opthea and OPM are cutting jobs.

Finance Watch: Biopharma Sees An Early April VC Mega-Round Surge

 
• By Mandy Jackson

Private Company Edition: After Q1 venture capital investment slumped relative to 2024 totals due to declines in both smaller financings and mega-rounds, Q2 started off with six $100m-plus financings in the first half of April after there were only three in February and six in all off March.

Glycomine Funds Phase IIb Rare Disease Trial With $115m Series C

 
• By Mandy Jackson

Lead drug GLM101 will move into its first placebo-controlled trial based on positive results in adults and adolescents with PMM2-CDG in an open-label Phase IIa study.

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Asia Deal Watch: Daiichi Taps Into Wayfinder’s RNA-Encoding Platform

 
• By Jung Won Shin, Lisa Takagi, Joseph Haas, Anju Ghangurde, and Vibha Ravi

Plus deals involving Elix/PRISM, Rege/Syros, Kaken/KalVista, Dr. Reddy’s/Aurigene/Edity, Nissan Chemical/Sanwa, Lupin/Renascience, Shionogi/Link Medicine, Abbisko/Merck & Co., Ono/Reborna and Apollomics/LaunXp.

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Cancer assets drove the highest percentage of biopharma alliance dealmaking in 2024, tripling the frequency of the next highest therapeutic category, neurology.

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• By Edwin Elmhirst

Evaluate's top five unpartnered clinical oncology assets reveals you have to get in early to snap up innovation in the competitive cancer space.