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Finance Watch: Q1 Biopharma IPOs Shrink To A Fraction Of 2021 Total

Falling Stock Values Keep New Offerings Low

 
• By Mandy Jackson and Kevin Grogan

Public Company Edition: Only nine drug developers went public in the US, raising $807m in the first quarter, versus 32 IPOs raising $5.2bn in Q1 of last year. Also, MoonLake closed its SPAC merger, Sanofi priced €650m in sustainability-linked bonds in €1.5bn note sale, and Kaleido will cease operations.

Finance Watch Public Company
• Source: Alamy

Initial public offerings in the US are in a slump, with just nine biopharmaceutical company IPOs during the first quarter, raising a total of $807m. The Q1 tally is a fraction of the offerings and the dollars raised during the first quarter of 2021, a record-breaking year for drug developers, with 32 IPOs that raised $5.2bn during the January-to-March period.

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