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Finance Watch: Public Market Opens Up Enough To Let An IPO Through

Biopharma Stock Valuations Rose In July

 
• By Mandy Jackson

Public Company Edition: MAIA launches a $10m initial public offering, the first in the US since May, but NewAmsterdam opts for the SPAC route to the stock market. Also, Legend raises $350m in a follow-on offering, Iveric obtains access to $250m in debt and Otonomy cuts costs after a Phase II failure.

Finance Watch Public Company
• Source: Alamy

A drug developer went public in the US for the first time in more than two months when MAIA Biotechnology, Inc. raised $10m from the sale of 2 million shares at $5 each on 27 July, taking advantage of a period of rising biopharmaceutical company valuations.

MAIA launched only the 15th biopharma IPO in the US this year after 14 companies went public during the first...

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