Going public has been a lucrative means of raising cash for hundreds of biopharmaceutical companies during the past few years, but with biotech stock valuations plummeting it has become increasingly difficult to raise cash through follow-on offerings. That is largely why Applied Molecular Transport, Inc. (AMT) and other biopharma firms have restructured and cut jobs this year.
Finance Watch: More Job Cuts As Companies Prioritize Cash Conservation
BridgeBio Sold PRV After Workforce Reduction
Public Company Edition: Applied Molecular Transport, Scholar Rock, Agios and others join many of their peers in revising their strategies and downsizing their teams. Also, Zentalis grossed $200m from a follow-on offering and OKYO Pharma went public in the year’s smallest biopharma IPO in the US.
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