The US stock market has been brutal for biopharmaceutical companies during the past year, with plummeting valuations driving companies to reprioritize their research and development plans, lay off employees and even wind down operations in 2022. That makes the last full week of May notable, because it ended on a positive note.
Finance Watch: Biotech Stocks Stabilize At The End Of A Rocky Week
Values Still Down Sharply Year-To-Date
Public Company Edition: Valuations have fallen enough in 2022 to lead some companies to wind down operations, but a recent uptick opened a window for a few offerings. Chinook raised $105m in a follow-on offering, while Flagship led a $79.2m registered direct offering for Evelo.
More from Financing
More from Business
• By
The biotech has rejected a takeover bid from Nordic Capital but a sale to private equity could be a solution to the public market's continued reluctance to adequately value PureTech’s hub-and-spoke business model.
• By
There were six biopharma initial public offerings on Western stock exchanges, including five in the US, during the first quarter, but plunging stock values could halt further IPOs.
• By
Sector-specific tariffs, including on pharmaceuticals, could be announced as early as this week.