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

Biopharma Stock Valuations Rose In July

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...

More from Financing

More from Business