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Finance Watch: Biotech Stocks Stabilize At The End Of A Rocky Week

Values Still Down Sharply Year-To-Date

 
• By Mandy Jackson

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.

Finance Watch Public Company
• Source: Alamy

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.

The Nasdaq Biotechnology Index (NBI) closed up 2.8% for the week ending 27 May after falling by as much as...

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More from Financing

In Brief: Soleno To Raise $200m To Boost Vykat XR Launch

 
• By Manas Mishra

Soleno Therapeutics will raise about $200m gross proceeds from an offering of 2.35m of its common stock to fund the commercialization of Vykat XR, which became the first drug for Prader-Willi syndrome to gain US approval on March 26.

Investors Back Nuclidium’s Next-Gen Copper-Based Radiopharmaceuticals

 
• By Andrew McConaghie

The Swiss company believes its platform can make radiopharmaceuticals easier to produce and more accessible to patients.

Finance Watch: Two New Venture Capital Funds Provide $600m For Biopharma

 
• By Mandy Jackson

Private Company Edition: Catalio raised more than $400m for its fourth health care-focused VC fund, while AN Venture Partners raised $200m for Japan and beyond. In VC financings, among a dearth of mega rounds, Neuron23’s $96.5m series D is the largest round in recent weeks.

Actithera Raises $75m To Enter Competitive FAP-Targeting Radioligand Field

 
• By Andrew McConaghie

While companies such as Eli Lilly and Roche have faced setbacks to their fibroblast activation protein-targeting oncology therapies, Actithera believes its radiopharmaceuticals platform will prove more successful.

More from Business

Glenmark Chief On IGI’s Landmark Trispecific Deal: Strong Data Excited AbbVie

 
• By Anju Ghangurde

Glenmark’s managing director talks about IGI’s billion dollar-plus deal with AbbVie, ISB-2001’s striking data, the BEAT platform, other "exciting" pipeline assets and the "blood, sweat and tears" to get to this stage.

AbbVie Licenses IGI’s ISB 2001 In Second Myeloma Trispecific Deal For 2025

 
• By Alaric DeArment

IGI CEO Cyril Konto said in an interview that his company picked AbbVie for its agility, drug development acumen and expertise in areas like intellectual property and legal affairs.

Merck & Co. Remains In The BD Game After Verona Takeout

 
• By Jessica Merrill

CEO Rob Davis said the company is in pursuit of more deals as it looks to close the revenue gap looming from the loss of Keytruda in 2028.