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Finance Watch: Third Harmonic Launches The Largest IPO In Months

Positive Readouts, An Approval Spur Follow-On Offerings

 
• By Mandy Jackson

Biopharma stock prices overall are trending down again, but standout firms are raising cash, including the first company to price an IPO over $100m since May, Third Harmonic. Also, Sarepta and Alnylam launched large note offerings, totaling $1bn and $900m, respectively.

Finance Watch Public Company
• Source: Alamy

Third Harmonic Bio launched an initial public offering on 14 September that marked the first IPO in the US by a biopharmaceutical company in four months to raise more than $100m. In fact, the last three first-time offerings since PepGen Inc. raised $122.9m on 5 May grossed $11.5m or less.

Cambridge, MA-based Third Harmonic sold 10.9 million shares at $17 each – in the middle of a proposed $16 to...

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