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Finance Watch: HilleVax, Belite Bio Launch First Two Biopharma IPOs In Q2

Year-To-Date US First-Time Offerings Finally Hit Double Digits

 
• By Mandy Jackson and Kevin Grogan

Also, Cytovia will go public via SPAC merger, Nkarta capitalized on its positive early NK cell therapy data with a $230m offering, and venture capital mega-rounds include $220m for Reify, $110m for Satellite Bio and $100m for OMass Therapeutics. 

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• Source: Shutterstock

It took four weeks, but the second quarter of 2022 finally has its first two biopharmaceutical initial public offerings in the US, launched by HilleVax, Inc. and Belite Bio late on 28 April. The offerings bring this year’s total to 11 IPOs in the US – the nine offerings during the first quarter were a fraction of the 32 first-time offerings recorded in Q1 2021, a record-breaking year.

The number of offerings so far in 2022 is not surprising given ongoing macroeconomic concerns, including widespread inflation and supply...

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