IPO Update: Mid-Year Average Return Deceptively Positive In Down Market
Outlier Leads To 25% Gain For 2022 Offerings
The 14 biopharma firms that went public during the first half of the year generated a 25% average return, helped by an outlier whose value rose 585%. Excluding Belite Bio, the -18% return for the IPO class of 2022 is more representative of current market realities.
